Hyperloop One Beats Out Musk for New Hyperloop Speed Record

Marcus Newton
December 20, 2017

Richard Branson, right, founder of the Virgin Group, will become the Chairman of Virgin Hyperloop One.

The company develops super high-speed transportation systems which are expected to cut travel time between NY and Washington to about half an hour.

The new speed record is still no where near the 700mph system Elon Musk described in the 2013 white paper, but faster than 220mph Musk's own "pod push" achieved over the summer.

Virgin Hyperloop One officials worked to focus interest on the company's successes on Monday. The company is in the process of rebranding itself Virgin Hyperloop One.

Branson's company in September announced 10 finalist cities for its first installation, which it expects to build by 2021. These two companies are based in Russian Federation and Dubai, respectively, with Virgin Hyperloop One starting off on its capital and running out, with 300 employees at risk of losing their jobs if more funding wasn't secured.

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In the summer, the company sent a pod about 192 miles per hour. "All components of the system were successfully tested including the airlock, highly efficient electric motor, advanced controls and power electronics, custom magnetic levitation and guidance, pod suspension, and the vacuum". Hyperloop One's co-founders, executive chairman Shervin Pishevar and president of engineering Josh Giegel, have previously worked at Virgin Galactic, Branson's space company.

Virgin Hyperloop One, a Los Angeles company developing a super-fast transportation system, announced it has raised US$50 million (NZ$72 million) from foreign venture capital investors and made Richard Branson the chairman of its board of directors. Caspian Venture Capital (founder and shareholder of Russia's Summa Group Ziyavudin Magomedov is co-owner of the venture fund) and one of the world's biggest port operators DP World have invested $50 mln in the Hyperloop high-speed train project, Summa Group reported Tuesday.

Although still under development, hyperloop technology is earmarked for extensive use in the U.A.E.

In terms of costs, the original Hyperloop concept paper suggested a trip from Los Angeles to San Francisco would cost $20, and more recently, the CEO of Hyperloop transport company ET3 said a $50 trip between the United States and India would be feasible.

Other reports by MaliBehiribAe

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