Virgin Hyperloop One partners with DP World to develop hyperloop cargo system

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Hyperloop technology specialist Virgin Hyperloop One has teamed up with supply chain and logistics firm DP World to create a new cargo brand – DP World Cargospeed.

The new company aims use hyperloop technology to deliver high-priority, time-sensitive freight at speeds of up to 1000km/h, with costs similar to that of trucking.

Commenting on the deal, Richard Branson, founder of the Virgin Group and chairman of the Virgin Hyperloop One board, said, “The DP World Cargospeed system has the potential to change freight transportation around the world. Take India as an example. Today, 25% of cargo traveling through the Mumbai port has its origin or destination in Pune. A large portion of this cargo trundles along the crowded Mumbai-Pune Expressway which carries 110,000 vehicles daily.

“A Virgin Hyperloop One system in the region could reduce a two-to-three-hour journey between the two cities by truck to just 25 minutes and combine the state’s two largest economic centers into a thriving, competitive mega-region.”

According to Branson, a DP World Cargospeed vehicle powered by the Virgin Hyperloop One system could enable the rapid movement of freight and light cargo between the two cities and even Navi Mumbai International Airport, enabling on-demand deliveries and next-generation logistics.

The Virgin Group and the Government of Maharashtra signed an ‘intent agreement’ in February 2018 with the aim of constructing a hyperloop transportation system between Mumbai and Pune.

Branson added, “The global growth of e-commerce is driving a dramatic shift in both consumer and business behavior. On-demand deliveries are a novelty today. Tomorrow it will be the expectation. DP World Cargospeed systems powered by Virgin Hyperloop One will enable ultra-fast, on-demand deliveries of high-priority goods and will revolutionize logistics, support growth and create thriving economic regions.”

Sultan Ahmed Bin Sulayem, chairman and CEO, DP World Group, said, “We have made a significant investment in Virgin Hyperloop One because we see the need for a hyperloop-enabled cargo network to support rapid, on-demand deliveries globally. We believe in Virgin Hyperloop One’s long-term vision. They are the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them.”

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With over a decade of experience as a business and technology journalist working in B2B publishing, Hazel first joined UKi in 2011. After taking 18 months off to bring up her daughter and try her hand at marketing copywriting, she returned in January 2018 to do what she loves best – magazine editing! She is now the editor of UKi's Passenger Terminal World and Parcel and Postal Technology International magazines.

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