DP World and Virgin Hyperloop One partner to provide hyperloop-enabled cargo systems
Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed Bin Rashid Al Maktoum attended the launch of DP World Cargospeed, a new global company created through a partnership between DP World and Virgin Hyperloop One to provide hyperloop-enabled cargo systems to support the fast, sustainable and efficient delivery of palletised cargo.
In reportedly the first initiative of its kind in the world, DP World Cargospeed will provide exceptional service for high-priority, on-demand goods, delivering freight at the speed of flight and closer to the cost of trucking.
DP World and the US-based Virgin Hyperloop One introduced their vision for the future of on-demand freight transportation enabled by DP World Cargospeed at an event hosted by Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, and Sir Richard Branson, Virgin Hyperloop One Chairman, at the historic vessel Queen Elizabeth 2 docked at Mina Rashid, Dubai.
Close partnership
“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. Virgin Hyperloop One is the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them,” stated Bin Sulayem.
“DP World Cargospeed systems powered by Virgin Hyperloop One will enable ultra-fast, on-demand deliveries of high-priority goods and can revolutionise logistics, support economic zones, and create thriving economic mega-regions,” observed Sir Richard.
Hyperloop is a futuristic mode of passenger and freight transportation in which a pod-like vehicle is propelled through a near-vacuum steel tube, with most of its air removed, at higher than airline speed. Hyperloop can achieve top speeds of up to 300 metres per second, making it two to three times faster than high-speed rail.
“DP World Cargospeed will optimize the entire end-to-end journey and offer unprecedented customer experience, reliability and the freedom from having to plan too far ahead,” said Rob Lloyd, CEO, Virgin Hyperloop.
