Vacuum high-speed train developer Hyperloop’s promising project is closed, Bloomberg has learned. The company is selling all of its assets and has already laid off most of its employees. Since its founding in 2014, Hyperloop has raised $450 million in funding.
Bloomberg learned from its sources about the closure of the project of the developer of high-speed vacuum trains Hyperloop. The company laid off almost all employees and put the testing site and equipment up for sale, the agency reports.
Hyperloop is controlled by the DP World conglomerate. The company, as well as Hyperloop itself, declined to comment to Bloomberg.
Hyperloop was developing a high-speed capsule transportation system. In 2020, the company tested its trains with passengers on board. Hyperloop planned to launch full-time commercial transportation in 2027.
According to Bloomberg, Hyperloop has attracted $450 million in investments since its founding in 2014.
Author:
Kirill Bilyk
Source: RB
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