Daily Management Review

Hyperloop is growing in Europe


08/14/2018


The high-speed transport system project Hyperloop has commenced a new stage of its development. An agreement to create test sites in Spain and France was signed last week. Experts are sure that in the case of positive results of the first projects, authorities of other European countries will also take an interest in Hyperloop.



Okras
Okras
Canadian company Transpod filed an application to test a site for Hyperloop to the authorities of the department of Haute-Vienne in south-west France. Canadians want to build an Hyperloop test track about 3 km long. Transpod has already raised about € 50 million from investors from North America and Italy. In an interview with AFP, the company’s head Sebastien Jindron said that the goal is to build the first commercial line Hyperloop, which will move at a speed of 1,000 km/h, by 2030.

The project Transpod in France, near the city of Limoges, is estimated at € 21 million. The Canadian company is actively negotiating with local authorities and hopes for a positive response.

"In this case, the state needs to act as an intermediary, because - regardless of what the future of transport will be - it will increase recognition and reputation of the region", said a representative of the central government in the department of Haute-Vienne.

Three days before the application for the construction of the test site for Hyperloop in France, the Spanish authorities signed an agreement with the American Virgin Hyperloop One to establish the first research center Hyperloop in the country. The center will be built in the Andalusia region; the total investment is estimated at $ 500 million.

Local authorities will provide Americans with loans and tax benefits of about € 126 million. From the Spanish side, the agreement is signed by the state infrastructure company ADIF, which actively implements innovations in the transport industry of the country. The Spanish research center Virgin Hyperloop One will employ about 300 highly qualified employees, most of whom Americans plan to hire in Spain itself.

The center should be built by 2020, its total area will be about 19 thousand square meters. It will develop, test and certify various components of the Hyperloop system.

The launch of new Hyperloop centers and test sites in Spain and France can be a good incentive for development of the project in other European countries, for example in the UK. In early June, creative director Virgin Hyperloop One Colin Rhys in an interview with City A.M. said that "London represents a huge development potential for us, and we really want to start active cooperation with the mayor, the London Public Transport Administration and other departments."

"At the moment we are at the stage of designing possible routes and attracting investors," the top manager added. "I see no reason for the system to fail to function in 10 years' time. Although if the British authorities continue to actively develop high-speed railways HS2, we are unlikely to be able to do something here."

source: theverge.com






Science & Technology

Europe overtakes US by number of patents for self-driving car technologies

Samsung introduces display technology for folding screens

How retailers use technologies to increase sales

Facebook releases videochat devices Portal and Portal Plus

Smartphone makers will pay for pre-installing Google apps‍

Five loudest data leaks

Airbus announces Moon exploration competition

Former Head Of Google China Thinks Funding In AI Should Be Doubled By US

Germany Introduces The First Ever Train To Run On 100% Hydrogen

Germany Plans On Cyber Security Research To End Reliance On U.S. Tech

World Politics

World & Politics

Brexit Negotiators Of Both Parties Close Down On Irish Border Text, Reports RTE

Bloomberg: Theresa May can face catastrophic defeat in parliament

New Asian Foreign Policy May Be Set By Congress After Democrats Taking Control Of House

Italy refuses to change draft budget

Italy is about to tighten its migration policy

Macron calls to create a pan-European army

Signals Of Mending Of US-China Emerge Before Anticipated G20 Meet

Moscovici: the European Commission may impose sanctions on Italy