Source: Financial Express, Jan 27, 2017
Mumbai: A proposal to cut travel time between both Mumbai and Delhi and Mumbai and Chennai by half to just an hour could be taken up by the central government soon. Travel between Chennai and Bengaluru could come down to 20 minutes from an hour currently while Bengaluru to Thiruvananthapuram could take 30 minutes, down from 70 minutes flying time at present.
“By fast, we mean 1,080 km per hour. Hyperloop offers aviation-like speed, train-like capacity and metro-like convenience,” Alan James, Hyperloop’s VP for worldwide business development told Fe.
The five routes from India are just a handful that have made it to the final stage of a global competition conducted by Hyperloop One – the company that is building the new global high-speed travel solution called Hyperloop — and which is just weeks away from bringing its technology to Indian shores. The company is set to hold the final leg of its competition on February 27 and 28, in New Delhi.
Five consortia from India have developed business cases for the above routes and the successful, viable plans are likely to be selected for implementation. Alan James, Hyperloop’s VP for worldwide business development told Fe that the routes proposed have seen involvement from the respective state governments as well as a leading Indian university.
He added that the company would hold discussions with the Ministry of Road Transport and Highways for potential national projects. “We want to see the entries first to evaluate the business case for the projects. We will hold discussions with government officials after that,” James said.
The only company that is working on the Hyperloop technology in the world, Hyperloop One currently has a test site in the middle of the desert in the state of Nevada in North America.
“Once we’ve proven the technology here by the end of March this year, our next step is to move to implementation stage globally,” James added.
The firm has raised $160 million in two tranches from private investors and is likely to receive a third round of funding worth $200 million in two-three months.