Hyperloop One CEO says that they are yet to receive investment proposals from India

Hyperloop One CEO says that they are yet to receive investment proposals from India

While India has evinced interest in introducing high-speed Hyperloop technology to revolutionise its transportation system, US-based Hyperloop One is yet to receive a solid investment proposal from either the government or private players in the country. Hyperloop, an idea from Tesla CEO and SpaceX Founder Elon Musk, boasts of a transportation system which proposes to propel a pod-like vehicle through a near-vacuum tube at nearly 1,100 km per hour and above. The pod lifts off the track using magnetic levitation and glides at aircraft speeds for long distances, owing to ultra-low aerodynamic drag.

In February this year, Rob Lloyd, CEO of Hyperloop One, met Railway Minister Suresh Prabhu and promised to revolutionise the advanced surface system in the country. If implemented, it would be possible to travel from Delhi to Mumbai in 55 minutes, Mumbai to Chennai in 50 minutes and Bengaluru to Chennai in 20 minutes. Prabhu expressed his interest in the Hyperloop technology, saying that India would be keenly watching the project. Since then, the two parties have held several rounds of talks over the proposed project but something substantial is yet to emerge. “We have not received any investment or offers of investment from the government or private investors in India yet,” Llyod told IANS in a telephonic interview from the US.

“We have had follow-up meetings with the minister and his staff and also had dialogue with other relevant departments and state governments. We continue to have strong interest in building a robust transportation system in India,” Llyod added. The Hyperloop One team was in India in July to follow up on the proposed project with various government agencies. Earlier this month, Hyperloop One announced it has successfully tested its prototype passenger pod, reaching a speed of up to 310 km per hour.

 

News Source: IANS

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