Economy
HyperloopTT Signs Deal to Build a 328-Foot Test Track in Germany
Hyperloop Transportation Technologies Inc., one of at least four Los Angeles startups competing to build a high-speed transport concept envisioned by Elon Musk, said it’ll work with a German container-terminal operator to build a 100-meter (328-foot) test track at the port of Hamburg.
The startup agreed to form a joint venture with Hamburger Hafen und Logistik AG aimed at bringing a tunnel-based hyperloop system to Germany. Their goal is to eventually connect the port to container yards dozens of miles further inland, HyperloopTT said. Each company expects to spend $3.5 million on the venture, which also includes a broader feasibility study. The location on the port for the test track, barely longer than an American football field, has yet to be determined.
Despite multiple studies, hundreds of millions in investor capital and considerable publicity, no commercial hyperloop project exists. Musk’s Boring Co. has made some progress thanks in part to fundraising schemes such as flamethrower sales, with a test track set to open in the Los Angeles area this month. HyperloopTT said last year that it would license some of its technology to a consortium in South Korea and said this year that it would work on a test track in Tongren, China. Virgin Hyperloop One, a rival backed by billionaire Richard Branson, is working on inking deals in the Middle East and India, and has a test track in Las Vegas.
Continue Reading
-
OER Magazines1 month ago
OER, September 2024
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, September 24
-
Uncategorized4 weeks ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Commodities1 month ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Banking & Finance1 month ago
Apple Pay Officially Launched in Oman
-
Oil & Gas1 month ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
Investment1 month ago
With Over RO600M in Foreign Investments, Future Fund Oman Unveils the First Batch of Investment Projects with an Overall Value of RO830M+
-
Lifestyle1 month ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season
You must be logged in to post a comment Login