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Tubes and Windmills While companies have encountered major headwinds in turning the Hyperloop, an entirely new and unproven form of transportation, into a reality, the European Hyperloop Center is still hoping to open the first functional track by the end of the decade. The non-profit foundation has opened a new quarter-mile test tube made out […]
A new lawsuit against Lucid Motors has revealed that the California EV startup gave up majority ownership to Saudi Arabia in exchange for the Kingdom’s $1 billion investment. Lucid Motors took the deal in 2018 when it was strapped for cash, and it was announced weeks before the assassination of journalist Jamal Khashoggi.
Let me end with the statutory warning before you send me your very large check: “Investments can go up, and up, and up, as well as up.”
Most employees were laid off and the company is trying to sell its remaining assets.
Hyperloop One's aim was to commercialise an idea of Elon Musk's, a system that aimed to propel pods full of passengers at speeds of up to 760 miles an hour.