Tuesday, April 3, 2018

Virgin Galactic, Virgin Hyperloop One Extend Relationship With Saudi Arabia

Virgin Galactic and Virgin Hyperloop One, alon with the Kingdom of Saudi Arabia (KSA) said late Monday that the three have extended their relationship and investment deal, where the parties will work together on the Kingdom of Saudi Arabia's "Vision 2030", a long-term diversification strategy being spearheaded by His Royal Highness Crown Prince Mohammad bin Salman Al Saud. Details on what that relationship means were not detailed by the parties. Saudi Arabia already announced in October that it will invest approximately $1 billion into the Virgin Group's US space companies, which include Virgin Galactic, The Spaceship Company and Virgin Orbit. In a statement, Sir Richard Branson said it is now looking to "extending these relationships further and welcoming their talented engineers into our Hyperloop test program".