By Hyperloop One, the high-speed train company that gained fame for its vision of propelling individuals at incredible speeds within a vacuum, has ceased operations.
Initially inspired by Elon Musk’s concept, Hyperloop One aimed to drastically reduce travel times by utilizing magnetic levitation (maglev) technology in a vacuum tube. This innovation was projected to minimize friction and air resistance, enabling trains to reach speeds of up to 700mph (1,127km/h) while presenting itself as a more eco-friendly alternative to existing high-speed transportation.
Despite garnering support from Virgin founder Richard Branson in the past, the project faced setbacks. Although the company managed to develop prototypes in the Nevada desert and successfully conducted a trial run in 2020, challenges arose. Experts raised concerns about the engineering obstacles, particularly the extensive construction required for the colossal tubes across landscapes and urban areas. Moreover, the technology struggled with corners, necessitating straight-line tube configurations.
Following these hurdles, Hyperloop One altered its strategy in 2022, shifting focus from passenger transport to cargo delivery. This strategic shift resulted in significant job losses, with over 100 positions cut initially and further reductions later in the year. The departure of Richard Branson, who served as the company chairman, marked a critical turning point. Additionally, the company faced controversies, including the incarceration of a former director on embezzlement charges in Russia and allegations of sexual misconduct against another investor.
The original concept, conceived by Elon Musk in 2013, proposed high-speed capsule travel through tubes. While Hyperloop One faced closure, Musk pursued similar technological exploration through his enterprise, The Boring Company, investigating subterranean tunnels for transportation solutions. Despite the setbacks encountered by Hyperloop One, several other companies globally persist in developing comparable high-speed transportation concepts.
Efforts to reach DP World, the majority stakeholder in Hyperloop One, for comment regarding the company’s closure have been initiated.
