Richard Branson is betting big on Elon Musk’s idea of a Hyperloop and has just announced a significant investment in Hyperloop One, a company bringing Musk’s idea to life.
The Virgin chief executive hasn’t confirmed how much he will invest in the firm but it has now been rebranded as Virgin Hyperloop One. Additionally, the billionaire entrepreneur will join the board.
Speaking to CNBC about the new form of transport, Branson said the Hyperloop will act as the perfect middle ground between trains and airplanes.
“As a train owner, I felt this is something that I want to be able to operate. At the moment our trains are limited to 125 miles an hour.
“There are consumers, for instance, that would love to go from London to Edinburgh in roughly 45 minutes. And that will be possible.
“You can have a pod outside your office that you and your colleagues can jump into. The pod can self-drive to the top of the tunnel. It then goes down the tunnel. It connects up and off you go at 600, 700 miles an hour up to your destination, going faster than an airline,” Branson said.
Virgin Hyperloop One is still in the testing phase of the technology but has been in talks with several governments for a feasibility study.
#FindingMyVirginity is all about embarking on new challenges. Well, introducing @Virgin @HyperloopOne https://t.co/aDUQO5WC4R pic.twitter.com/bAopBGK0JF— Richard Branson (@richardbranson) October 12, 2017