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.
Details
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.
Optional
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.