Hyperloop One, the company famed for its ambitious vision of propelling people at incredible speeds through vacuum tubes, has officially closed its doors.
Originally conceived based on Elon Musk’s idea, the company aimed to revolutionize travel by significantly reducing journey times.
Virgin founder Richard Branson had initially supported Hyperloop One, but he withdrew his backing last year.
According to Bloomberg, the remaining staff will be laid off by the end of the year.
Hyperloop One had proposed a futuristic mode of high-speed travel utilizing magnetic levitation (maglev) technology within a vacuum tube.
This innovative approach was designed to minimize friction and air resistance, enabling speeds of up to 700mph (1,127km/h) and promoting a more environmentally friendly alternative to existing high-speed transportation.
Despite constructing prototypes in the Nevada desert, the project encountered engineering challenges and skepticism from experts.
The plan necessitated the installation of colossal tubes across landscapes and urban areas, presenting logistical challenges.
Additionally, the technology faced difficulties navigating turns, requiring all tubes to be in straight lines.
In 2020, the company conducted a successful trial with two employees experiencing the first passenger ride using hyperloop technology.
The pod achieved a top speed of 107mph (172km/h) on a 546-yard (500m) test run.
In 2022, Hyperloop One altered its strategy, shifting focus to cargo transportation instead of passenger travel.
This change was accompanied by over 100 job losses, followed by further layoffs later in the year.
By year-end, Richard Branson, the company’s chairman, exited, and the company lost Virgin’s endorsement.
Hyperloop One faced additional challenges, including scandal involving a former director jailed in Russia for embezzlement and the departure of an investor amid sexual misconduct allegations.
https://www.youtube.com/watch?v=1ijmdKm_HqU
Elon Musk, the mind behind the original hyperloop concept in 2013, continues his exploration of similar technology through The Boring Company, which investigates underground tunnel systems.
Despite Hyperloop One’s closure, other companies worldwide persist in developing the hyperloop concept.
DP World, the Dubai-based majority stakeholder in Hyperloop One, has not yet provided a comment on the company’s shutdown.
