Monday, April 30, 2018

Virgin Hyperloop One, Dubai Team On New Cargo Transport Startup

Los Angeles-based Virgin Hyperloop One, the advanced transportation technology startup which is now backed by Sir Richard Branson, has inked a deal in the country of Dubai, to launch a new startup called DP World Cargospeed. According to the companies, the new startup will develop a hyperloop system specifically designed for transporting cargo. In a launch in Dubai of the new company, Branson said he hopes to have those systems up and running within three years. DP World Group has been an investor in Virgin Hyperloop One since 2016, before Branson's investment and rebrand of the company to Virgin Hyperloop One. DP World Cargospeed will use Virgin Hyperloop One's existing Hyperloop technology as the core of its efforts.