The Emir of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, left Richard Branson's Hyperloop One presentation on board the Queen Elizabeth 2 in Dubai, United Arab Emirates, Sunday, April 29, 201
DUBAI, United Arab Emirates – Dubai-based docks operator DP World put its name on Hyperloop technology on Sunday, for which it has spent millions on its development. It's about the big plans of its designers work away.
The freight system developed by Virgin Hyperloop One along with a possible passenger service is referred to as DP World Cargospeed, said the CEO and chairman of the port operator Sultan Ahmed bin Sulayem to journalists and other gathered people a dazzling announcement alongside billionaire Richard Branson
But it remains unclear what exactly the branding means. At least it shows how much money DP World has poured into the company through various rounds of financing.
When the Hyperloop will go into operation is an open question, as Virgin Los Angeles-based Los Angeles Hyperloop One has been shaken up in recent months, including on its board of directors.
"Today things are changing, today our role is not in port," said Bin Sulayem. "Our role is from the time that the cargo leaves the factory before it reaches the consumer's door.
A Hyperloop is a type of cargo and passenger transport, where floating pods carry electricity and magnetism through low-friction pipes Sliding top speed of 1,220 km / h Tesla co-founder Elon Musk first proposed the idea in 2013.
The idea was spread in the United Arab Emirates, an association of seven sheikdoms, since similar glamorous events in 2016. Hyperloop Companies hungry for seed money, the idea has turned into sheikdoms like Dubai sunken Dubai skyscrapers striving to be up to date.
Also the acting Emir Sheikh Mohammed bin Rashid al Maktoum, who is also Vice President and Prime Minister of the Emirates is unannounced on Sunday This event shows the importance, ie e attaches its government to the new technology.
"Dubai is at the forefront of everything," said Branson.
The launch spared no expense. Models in white jumpsuits and capes were on their way to the Queen Elizabeth 2, which had just become a floating hotel after nearly ten years of dock work. Slick graphics dated April 29, 2025 showed pods coming out of a series of tubes, racing along a Dubai skyline with a solar panel farm.
However, no one offered an appointment for such a service in Dubai. Officials said they hoped to start building a test site in India next year.
Speculation that the United Arab Emirates would stir up the world's first Hyperloop system for years. Hyperloop One official in 2016 then suggested travel time via Hyperloop between Dubai and Abu Dhabi would be just 12 minutes – significantly less than the hour plus travel that it now takes by car between the two cities. However, this would depend on how many stations such a system would have.
Hyperloop TT, another Los Angeles-based company, announced earlier this month plans to build a test track within a 10-kilometer (6.2-mile) property near Abu Dhabi's border with Dubai. His partner is the largely state developer Aldar Properties.
However, one had the impression that the Emirates had slowed down the idea a bit. Recently, the Dubai Road Authority published a statement rejecting plans to build a Hyperloop line between the new Al Maktoum International Airport and Abu Dhabi International Airport.
"There is no specific route for operating the Hyperloop system in Dubai Dubai and other Emirates," said the RTA. "The RTA is following closely the developments in this technology and will explore various options for determining the route that will be announced in the future."
Branson, of which Forbes Magazine estimates a net worth of $ 4.9 billion, became Virgin Hyperloop One Chairman in December
The former chairman and co-founder of Hyperloop One, venture capitalist Shervin Pishevar, picked up on a series of allegations for sexual offenses, which he refused, a leave of absence. In recent weeks, others have left their board. Russian billionaire Ziyavudin Magomedov, a board member and former investor, faces disproportionate charges and accuses him of embezzling money from Russian government infrastructure contracts.
When asked about the boardrooms, Branson replied, "The previous chairman has left."
"I'm ready for a new challenge and it's a very exciting new challenge."
As one of the largest port operators in the world World DP World has investigated the potential of Hyperloop technology cargo from its Jebel Ali port operation in Dubai to storage areas further out into the surrounding desert to clear space.
Bin Sulayem refused to say how much DP World spent in three different rounds of financing with Virgin Hyperloop One. However, he described the port operator as "the biggest investor in Hyperloop".
Virgin Hyperloop One has raised a total of $ 276 million in funding rounds, according to the corporate information site crunchbase.com.
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