Hyperloop One It has announced the closure of its business and is attempting to sell its remaining assets. Including the test field and all used machinery. The inventions invented by the company and registered as intellectual property will be transferred to DP World, the major shareholder of Dubai Transport Company. The employment of all company employees will end on December 31st.
Hyperloop One's Failure Seven years after its founding, the company has not built a functional hyperloop. Hyperloop One has never received a contract to build a working hyperloop electric vehicle. or unable to fulfill any contract terms That led to the actual creation of the hyperloop electric train.
Simply put, the concept of a new form of transportation technology was dreamed up. It is still only a future business idea on paper. If you look back at the company's journey, you will see that Hyperloop One has struggled quite a bit.
Hyperloop One isn't the first to come up with this idea. hyperloop technology It was sparked by Elon Musk, CEO of world-class technology companies like SpaceX and Tesla, and another of his companies, the Boring Company, is one of the tunneling businesses that tried to create a system for intercity passenger transport via low-pressure vacuum tubes in 2013. and has publishedwhite paperwith a rough plan to the public to enable further development
by Hyperloop One Or Hyperloop Technologies was founded in 2014 by Brogan BamBrogan and Shervin Pishevar before transferring to Richard Branson, an American businessman who owns the famous space tourism “Virgin”.
This startup offers 'Future transportation concept' By traveling by high-speed electric train through an underground transportation pipeline called 'Hyperloop' To avoid traffic on the road The floating capsules are driven by a magnetic system in a low-pressure vacuum tube. With speeds of up to 760 miles per hour or approximately 1,200 kilometers per hour. It is said to make the trip from Las Vegas to Los Angeles in only 30 minutes.
Hyperloop One first demonstrated its technology in 2016 at DevLoop, a testing ground in Las Vegas. With a pipeline distance of 487 meters, a diameter of 3.3 meters, and a speed of 112 kilometers per hour. And a year later, it began raising its first fund of 295 million US dollars.
In 2017 Richard Branson Acquired Hyperloop One with investment experience in tech companies. From aviation, trains to spaceships. Change the name to 'Virgin Hyperloop One' along with bringing in President of Engineering Josh Giegel, who previously worked at Virgin Galactic, to join in commercial development It plans to build hyperloop in the United States, the Middle East, Europe, Canada, and India.
Meanwhile, the company raised more than US$400 million in 2019, led by DP World, a major logistics company from Dubai, who became a major shareholder.
In 2020, Virgin Hyperloop One made another exciting milestone. By developing a new passenger capsule called 'Pod', it successfully completed a test run through a 500 meter pipeline with two passengers who were employees of the company, taking 15 seconds and reaching a top speed of 172 kilometers per hour.
However, negative stories emerged. Including the scandal of Brogan co-founders BamBrogan and Shervin Pishevar, who resigned after allegations of sexual harassment and misconduct, and director Ziyavudin Magomedov, who was arrested in Moscow on charges of sexual harassment and misconduct. Fraud and embezzlement This was not related to Hyperloop One at the time.
It seems that the goal that was set to launch the hyperloop train in 2025 still doesn't appear to have come true. It also cannot remove criticism of the possibility of its actual creation. Although hyperloop may be technically possible, In addition, senior executives gradually resigned, including Branson removing his Virgin brand after DP World decided to focus on transporting goods rather than people. After being affected during the COVID outbreak
This year it was reported that The company merged with Shell Company and recorded a fall in the value of its shares to zero cents. Before the latest, Dec. 21, announced the sale of the remaining assets. Ready to end business This marks the complete end of Hyperloop One.
