Tuesday, June 21, 2016
Hyperloop One Inks Partnership With Moscow On Russian Transport System
Los Angeles-based Hyperloop One, one of the local companies which is looking to bring Elon Musk's idea of high speed transportation to reality, reported today that it has signed a Memorandum of Understanding (MOU) with the city of Moscow, to explore building high-capacity, passenger systems in the Russian city. Hyperloop One said the MOU came in conjunction with infrastructure provider The Summa Group, which it says has "significant" infrastructure investments in Russia. Financial details of the deal were not disclosed. The companies said the deal will look into developing Hyperloop routes in Russia, including both shipping cargo from China to Europe as well as helping transport Russian residents on their commute. Hyperloop One's CEO is Rob Lloyd; the company's Executive Chairman and co-founder is Shervin Pishevar.