Hyperloop One Is Now 'Virgin Hyperloop One' Thanks to Richard Branson's Investment

Hyperloop One Is Now 'Virgin Hyperloop One' Thanks to Richard Branson's Investment

"This is an incredibly innovative and exciting new way to move people and things at airline speeds on the ground", Branson said on Virgin Group's website.

Branson, who described the endeavor as the world's most revolutionary train service, said that as a train owner (his company owns a train network in the United Kingdom in addition to an airline and other ventures), he felt this is something he wants to be able to operate.

The pod floats above the surface of the tube using electromagnets and is gradually accelerated to speeds typically reached by an airliner.

A Hyperloop uses a pod to carry passengers or cargo through a low-pressure tube.

Hyperloop One announced the first successful full-systems test in July.

"For more than 20 years, Richard and Virgin have been at the forefront of transportation innovation, and a partnership with them feels like a natural fit", Shervin Pishevar, co-founder and executive chairman of Hyperloop One, said in a statement. In its announcement today, Virgin Hyperloop One says that it "continues to see a growing demand from governments and the private sector around the world". "I was very impressed and now look forward to helping turn this cutting edge engineering into a global passenger service".

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As a result, projected journey times in the United Kingdom include Edinburgh to London in 50 minutes.

Electric: Testing under way near Las Vegas.

"From our airlines to our trains to our spaceline, we have always been passionate about innovation in transport too, especially the development of technology that could transform people's lives", Branson said in a statement.

'The maximum distance travelled is 436 metres, with a peak acceleration of 1.48 Gs - equal to 0 to 60mph in 1.85 seconds. This is just the latest example. Virgin Hyperloop One will also be all-electric.

Meanwhile, Musk is now working part-time on a similar project, called The Boring Company.

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