Hyperloop One Gets 'Virgin' Name Following Branson Investment

Cesar Mills
October 13, 2017

"Virgin is an iconic brand, and having Richard as an ally will help strengthen our mission to spread Hyperloop One throughout the world", Hyperloop One co-founder Shervin Pishevar said in a statement.

Sir Richard has led an $85m (£65m) investment in Hyperloop One, a California-based company that is the first to successfully test the high-speed magnetic levitation technology. Musk initially said he would leave construction of a hyperloop to others and would simply provide support for pod design through SpaceX's competition, but after starting a tunnel boring company, he chose to go ahead and build a hyperloop of his own.

Over the next couple of months, the company will rebrand itself as Virgin Hyperloop One. It's now "Virgin Hyperloop One", following an investment by Richard Branson's Virgin Group.

With Virgin Hyperloop One, passengers and cargo will be loaded into a pod and accelerate gradually via electric propulsion through a low-pressure tube.

In a blog post that describes the transport initiative as "the world's most revolutionary train service", Branson says Hyperloop is "an incredibly innovative and exciting new way to move people and things at airline speeds on the ground".

Trains: Hyperloop floats above the surface of the tube.

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Branson and his company, Virgin Group, are investing an undisclosed sum in the startup to kick off a new global partnership.

He said: "Projected journey times in the United Kingdom include Edinburgh to London in 50 minutes".

From now on the company, which is currently making rapid progress on its test track in Nevada, will be rebranded as Virgin Hyperloop One.

In a post on his website, Branson said he aimed to turn it into a "global passenger service" which could complete the 332-mile journey between the Scottish and United Kingdom capitals, via Manchester, in under an hour.

In August, the Hyperloop traveled nearly the entire length of the track and reached a top speed of 192 miles per hour.

"This is just the latest example".

Other reports by GizPress

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