Possible alternatives: – Hyperloop One Rumored to Cease Operations – Reports Indicate Hyperloop One’s Closure – Hyperloop One Allegedly to Halt Operations – Sources Claim Hyperloop One Shutting Down – Rumors Suggest Hyperloop One’s Shutdown
One of the longest-running hyperloop startups is reportedly shutting its doors.
Hyperloop One, once backed by Richard Branson’s Virgin Group, will cease operations on December 31 according to Bloomberg News.
And it comes after Hyperloop One raised and spent hundreds of millions of dollars since its founding in 2014.
It took on the name Virgin Hyperloop One after Branson invested in 2017.
DP World will wind up with Hyperloop One’s intellectual property, Bloomberg reports, while the rest of its hard assets — including a test track outside Las Vegas and other machinery — will be sold off.
