Hyperloop One, the company known for its ambitious plans to revolutionize transportation, has announced its closure. The company, which aimed to drastically reduce travel times using high-speed capsules in a vacuum tube, had previously received support from Richard Branson but lost his endorsement last year. According to Bloomberg, the remaining staff will be laid off by the end of the year. Hyperloop One’s concept involved using magnetic levitation technology within a vacuum tube to eliminate friction and air resistance, allowing speeds of up to 700mph (1,127km/h). However, the project faced engineering challenges and required extensive construction of tubes across various terrains. The company did conduct successful trials with passengers in 2020, reaching a top speed of 107mph (172km/h). In 2022, Hyperloop One announced a change in strategy, focusing on cargo transportation rather than passenger travel. This shift resulted in over 100 job losses. The company also faced scandals involving previous directors and investors. Despite Hyperloop One’s closure, other companies around the world continue to work on similar concepts. DP World, the majority stakeholder in Hyperloop One, has not yet commented on the closure.
Not for human consumption
