There was an important development regarding Hyperloop One, one of the companies in the tube transportation sector that Elon Musk put forward years ago. Bloomberg announced that the company will be shut down. Although there has been no official statement from the company, according to sources familiar with the subject, the company will end its activities as of December 31, 2023.
Since 2014, the project has been working on ultra-high-speed trains in special tubes. Initially planned for freight and passenger transportation, the project announced last year that it would focus more on freight transportation. It was believed that the realization of the project would both reduce traffic density and save time. However, the latest news reveals that this will not happen.
It was already no more than a test track
Although Elon Musk first mentioned this project 10 years ago, there has not been much progress over the years. Different companies in different countries have not gotten very far. The Hyperloop One team has done nothing more than a test track until today. Moreover, there were very serious fights between investors in this process. The project, which was first called Hyperloop One, was renamed Virgin Hyperloop One in the later stages. Last year, the project, which was dominated by the Dubai company DP World, stopped using the name Virgin. In this process, half of the staff was laid off.
According to the information, DP World, the owner of Hyperloop One, will put the test tube and other materials built within the scope of the project up for sale. However, no one knows who will demand these materials and for what purpose.
