Today: Jun 14, 2024

Elon Musk’s Hyperloop One fades into history.

6 months ago

Key Points:

  • Elon Musk’s Hyperloop One, a transportation startup, is shutting down by the end of 2023.
  • The company aimed to revolutionize travel with high-speed, low-pressure tube systems.

Elon Musk’s Hyperloop One, formerly known as Virgin Hyperloop, is reportedly in the process of shutting down. The company, which aimed to revolutionize travel with high-speed, low-pressure tube systems, is selling off assets, laying off staff, and preparing for a complete shutdown by the end of 2023. Dubai port operator DP World is expected to become the majority stakeholder through the sale of assets and intellectual property. The company’s test track in Nevada is also up for sale.

Hyperloop One was founded in 2014 and had raised approximately $450 million in funding. It was a major player in the hyperloop space and sought to realize Elon Musk’s visionary concept outlined in his 2013 “alpha paper.” Musk proposed propelling capsules through near-vacuum tubes at speeds up to 760mph, creating a “fifth mode of transportation.”

However, Hyperloop One faced internal challenges, legal disputes, and financial constraints, leading to its closure. While other startups continue to pursue hyperloop technology, the shutdown of Hyperloop One represents a setback for the industry’s ambitions to transform transportation.

This announcement comes amidst reports of Microsoft phasing out support for Windows 10, potentially leading to the disposal of 240 million PCs. Additionally, WhatsApp has rolled out the ability to share status updates from linked devices, and the winter solstice provides astronomical insights into the shortest day and longest night of the year.

Overall, the closure of Hyperloop One marks the end of a once-promising transportation startup and highlights the challenges of realizing Elon Musk’s ambitious hyperloop vision.