Virgin withdraws its name from the Hyperloop project, consequence of the pivot towards a solution of transport of goods only.
Virgo hyperloop, the startup trying to make Elon Musk’s vision of super-high-speed rail a reality, has changed its name. A few weeks ago, the company quietly changed his name to return to Hyperloop One, the name she used between 2016 and 2017.
Virgin withdraws its name from the Hyperloop project
In a press release, Virgin Group explains that it has “decided to work with the Virgin Hyperloop management team to remove the Virgin brand from the business.” This initiative is the consequence of a “change in the short-term priorities of Virgin Hyperloop“, and in particular the transition from the creation of a service of transport of passengers to a service of transport of goods only.
Engadget had noticed the change, noting that the company had modified its website by handing over an old archive image of its XP-1 test capsule and the mention “It’s a new day at Hyperloop One” (“It’s a new day for Hyperloop One”). The company’s Twitter, LinkedIn and Instagram accounts have also been updated accordingly, using the old name.
Consequence of pivoting to a freight-only solution
The company had a rather complicated year, with the layoff of 111 employees last February when it abandoned its passenger transport project. After that, major shareholder DP World said it wanted to drive technology for logistics, envisioning the construction of “inland ports” to get containers from ships to their destination much faster than current systems.
“We would like to thank the Virgin Hyperloop team for their hard work and commitment over the years and wish them success for the future,” the statement read. Hopefully the project will come to an end. Such a system could revolutionize the transport of goods.