"Hyperloop One's radically efficient and clean, all-electric technology is aligned with the Virgin Group's purpose-driven mission to deliver more sustainable modes of transportation", the startup said in an announcement.
Led by Rob Lloyd, CEO, Shervin Pishevar, co-founder and Executive Chairman, and Josh Giegel, co-founder and President of Engineering, Hyperloop has built a fully operational Hyperloop system.
"The Virgin Group and Hyperloop One will be entering into a global strategic partnership focused on passenger and mixed-use cargo service".
The pod quickly will hover over the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag, according to the company. In July, Musk said his tunnel-digging firm, The Boring Company, received "verbal" approval from governments to begin digging a tunnel for a hyperloop from NY to Washington, D.C. Others such as Hyperloop Transportation Technologies is also in talks with governments in Asia and Europe about building its own system.
Virgin is a leading worldwide investment group and one of the world's most recognised and respected brands.
Virgin apparently isn't the only one with an renewed interest in Hyperloop One since that test.
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"This is an incredibly innovative and exciting new way to move people and things at airline speeds on the ground, " Branson said in a statement.
We're not going to be talking about "Hyperloop One" anymore because the company has a new name.
"Our goal is to make travel fun again".
During phase two of testing, the duration of the longest test was 10.6 seconds - with a top speed of 310kmh. The pod magnetically levitates inside the tube in near-vacuum, without any air resistance.
A test sled speeds down a track during the 2016 test.
This isn't the first futuristic and unproven transportation project for Virgin Group. "He's always looking at the future of transport, whether it be in space or on land, and he's run trains for more than 20 years in the United Kingdom". During this trial they used full-scale Hyperloop passenger pods at their DevLoop site in Nevada, in the US.