RIL to decide site for pod taxi prototype
NEW DELHI: Mukesh Ambaniled Reliance Industries Ltd (RIL) will finalise the site for India’s first pod taxi prototype, the next generation transportation system, according to the terms of the deal between Reliance and Skytran, announced last week.
Pod taxi is a driverless personal rapid transit system, which runs along a pre-determined course either through overhead suspension or magnetic levitation.
“For the prototype, some bits will be imported from the US, while most of it will be made in India. In return, Reliance will help Skytran with multiple technologies to run the pod taxi, including communication technology, which is an important part of the deal.”
Last week, Reliance Industrial Investments and Holdings Ltd, the wholly-owned RIL subsidiary, acquired a 12.7% stake in Us-based technology company Skytran. The strategic investment was made through stock financing, with an option to further invest up to $25 million in convertible notes, subject to the approval of Skytran’s board.
Skytran, which has partnerships with National Aeronautics and Space Administration (NASA) and Israel Aerospace Industries (IAI), has investments by Eric Emerson Schmidt, an American businessman and the former executive chairman of Google, and Timothy Cook Draper, an American venture capital investor.