US Hyperloop promises Mumbai-to-chennai in 50 minutes, Bengaluru-to-chennai in 20 minutes
NEW DELHI: Hyperloop One sees India as among the top three markets for its superfast transportation solution and is ready to invest “billions of dollars” in the country, CEO Rob Llyod said. The Us-based company, which is hopeful of launching the prototype within next three to four months, is ready to invest “billions of dollars” if India evinces interest and provides conducive environment.
“India for hyperloop is among the top three markets in the world ...It may have the strongest economic case in anywhere in the world because of the population density and lack of infrastructure... if ‘Make in India’ is a priority you need to build infrastructure,” said Lloyd.
He said that the company is in talks with the government as well as companies for some routes that could be built on public-private partnership. The Los Angeles-based company will decide whether “could it be India or it could be the Middle East” for launch of the first project.
The company is working on a technology that would use magnetic levitation in lowpressure tubes to transport people and goods at superfast speeds like 1,102 km Mumbaito-chennai via Bengaluru in 50 minutes or 334 km Bengaluru to Chennai in 20 minutes. This will be “first time in the world that any company will be demonstrating the first scale hyperloop sometime in the spring that will be the first production of hyperloop.
The company has raised 116 million dollars of financing,” said Lloyd. The Chief Executive Officer of the company said that since it is an expensive endeavour the company is currently raising more funds.
“We are in the market... we would be raising another USD 200 to USD 300 million dollars between now and the summer. We think that the first scale prototype is required for some investors to see it at work... we are going to selling to governments, transportation authorities and this is not small thing, these are multi-billion dollar projects,” Lloyd said.
Lloyd said the prototype was expected in next three to four months as a worldclass team of 200 employees was working hard at company’s engineering facility in Los Angeles and number of employees will double to 400. He said, “We will try to find one or two potential locations in India as we have seen huge interest from the Indian market” and would discuss with the government and regulators.
If it is materialised that will result in economic growth and job creation, he said. He said the company’s target is to identify two routes anywhere in the world by the end of 2017 and to begin construction in 2018 and completion by 2020-21. The company has said that it can integrate with and augment India’s vast transport network with reliable, clean, and on-demand autonomous transport, connecting India’s major cities at faster-than-airline speeds.
“Hyperloop can reinvent and transform transportation in India, making the nation a global leader in innovation, efficiency, and regional economic growth,” it said. “Hyperloop One will help accelerate India’s growth towards building substantial infrastructure that is both financially and environmentally sustainable,” said Lloyd.
The company on Tuesday showcased five Hyperloop One Global Challenge (HOGC) semi-finalist teams from India, each of which proposed high-speed transportation routes that could improve the lives of millions of Indian citizens.
The HOGC required the teams to develop regional proposals integrating Hyperloop One’s disruptive transport technology to move passengers and freight from point-to-point, swiftly, and on-demand. The HOGC which was kicked off in May 2016 invited teams across the world to put forward a comprehensive and commercially viable transport plan covering economical and policy aspects of their respective cities, regions and countries.
It received more than 2,600 registrants from 90 countries, and narrowed the field down to 35 semi-finalists across all continents with a potential pipeline worth USD 26 billion.
“India led the way with the highest number of registrants and had the most vocal supporters of Hyperloop One on social media. The India semifinalists include AECOM- Bengaluru-to-chennai: 334 km in 20 minutes, LUX Hyperloop Network - Bengaluru-to-thiruvananthapuram: 736 km in 41 minutes, Dinclix Groundworks - Delhi-to-mumbai via Jaipur and Indore: 1,317 km in 55 minutes, Mumbai-to-chennai via Bengaluru: 1,102 km. 50 minutes and Infi-alpha - Bengaluru to Chennai: 334 km in 20 minutes.
Founded in 2014 and headquartered in Los Angeles, the company is led by CEO Rob Lloyd and cofounded by Executive Chairman Shervin Pishevar and President of Engineering Josh Giegel.
Meanwhile, with the rise in automation, 52 per cent of CEOS say they are exploring the benefits of humans and machines working together and 39 per cent are considering the impact of artificial intelligence on future skill needs, says a PWC survey.
According to Pwc’s 20th CEO Survey, in which 1,379 CEOS from 79 countries were interviewed, the rise of automation will transform the role people play at work. While, different skills will be needed, some roles will disappear and others will evolve. Success in an automated world will mean people and machines working together, rather than one replacing the other, the report said adding that there will be a re-balancing of human capital as organisations adjust.