Richard Branson's Virgin Group Invests In Hyperloop One
On Thursday Hyperloop One - the California-based company working on a high-speed transit system similar to one that Elon Musk first outlined in 2013 - announced that it had struck an investment deal with Richard Branson's Virgin Group.
The agreement involves the company rebranding to be called "Virgin Hyperloop One," and working on a plan to build a train that will eventually go from London to Edinburgh in 50 minutes.
Branson, who reportedly led an $85 million investment into the company, has also joined the board of directors.
Along with the proposed London to Edinburgh route, the company has projects underway in the UAE, the U.S., Canada, Finland, the Netherlands, and India.
In a tweet, Branson called the Hyperloop "the world's most revolutionary train service," and wrote in a press release, "After visiting Hyperloop One’s test site in Nevada and meeting its leadership team this past summer, I am convinced this groundbreaking technology will change transportation as we know it and dramatically cut journey times."