The company for high-speed transportation company Hyperloop One will close as it failed to win a single to win a single contract for the construction of a working hyperloop. This was reported by Bloomberg is reported by Bloomberg, according to UNN.
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According to the the publication, Hyperloop One, which has developed passenger transportation in an ultra-fast system of levitating capsules, is laying off employees starting January 1, 2024. As of early 2022, the company employed more than 200 people. The company has already closed its office in Los Angeles. The remaining employees who were tasked with to oversee the sale of the assets, were told that their jobs would end on December 31.
A well-known startup, founded in 2014, has raised more than $450 million and built a small test track near Las Vegas. In 2020, they made the first passenger transportation in the world. But for all that time, they have not built a single large-scale hyperloop that actually works. And last year, the startup decided to focus on cargo, not people.
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Since investment, Hyperloop One is now trying to sell the remaining assets, including the to sell the remaining assets, including the test site and equipment.
The intellectual property of the startup will be transferred to the Arab company DP World, which owns a controlling stake in the company.
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The Hyperloop system system uses vacuum and magnets to provide high-speed and nearly silent travel. travel. A trip between New York and Washington was expected to take only 30 minutes - twice as fast as flying on a commercial airplane and four times faster than by high-speed train.
In technology Elon Musk showed interest in the technology. He created The Boring Company, which which promises to build a system of vacuum tunnels between cities that will run capsules with passengers.
It was planned to develop the technology in Ukraine as well. In Dnipro wanted to build a test site for the development of vacuum trains.