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Hyperloop One is shutting down its operations. The company was founded in 2014 promising pods that would carry passengers at airline speeds through nearly airless tubes. Turns out, it wasn’t really viable.
Hyperloop One, once backed by Richard Branson's Virgin Group, will cease operations on December 31 according to Bloomberg News. It's the latest stumble in the tech industry's attempt to bring life to an idea Elon Musk first put forth in a white paper in 2013. Hyperloop One itself went through multiple mutations, including an ugly legal fight between its co-founders.
One of the longest-running hyperloop startups is reportedly shutting its doors. Hyperloop One, once backed by Richard Branson's Virgin Group, will cease
(Bloomberg) -- Hyperloop One, the futuristic transportation company building tube-encased lines to zip passengers and freight from city to city at airplane-like speeds, is shutting down, according to people familiar with the situation.Most Read from BloombergIran Sends Warship to Red Sea After US Sinks Houthi BoatsQuake Hits Northwestern Japan, Killing Four, Wrecking HomesIndia’s Crude Oil Imports From Russia Plunge on Payment IssuesUS Pushed Dutch Maker of Chip Equipment to Block Chinese Sales
An ultra-high speed transportation system for passengers and cargo, Hyperloop has three essential working elements: tubes, pods, and terminals. While the concept has been around for a long time, it is at an early stage of trial and development by startups, academicians, and organisations across the world. ETAuto studies the progress made in India and how far is the dream from turning into a reality.