Richard BransonTuesday, 1 May 2018 ()
Sir Richard Branson has pledged to deliver freight "at the speed of flight" and closer to the cost of trucking in a new hyperloop tie-up with DP World for a delivery on-demand service.Earlier this week, Branson said he was teaming up with the Dubai port operator to make use of the futuristic transport system to move cargo at high speeds. They are building a new cargo brand, DP World Cargospeed, "which will be built for an on-demand world".
A hyperloop system involves levitating pods propelled through low-friction tubes at high speeds with little air pressure to slow them down, and was the brainchild of Tesla and Space X billionaire Elon Musk.
Branson became involved in Hyperloop One last year, investing in it, becoming chairman and renaming it Virgin Hyperloop One.
*Read more*: The hyperloop train is leaving the station – and the UK must be on it(Source: Virgin Hyperloop)
Virgin Hyperloop One and DP World's venture will aim to use hyperloop technology to deliver freight at the speed of flight, and nearer to the price of trucking. Travelling at top speeds of 1000 km/h, DP World Cargospeed systems will transport high-priority, time-sensitive goods from fresh foods to medical suppliers to electronics.
In a blog post yesterday, Branson said:
More and more customers expect products in their hands as soon as possible after purchasing online. This is putting a huge demand on the freight and logistics industry - a demand that will only keep growing.
Branson said with the new system in the works, a four-day truck journey will be reduced to 16 hours and costs will be slashed.
He gave the example of India, with 25 per cent of cargo travelling through the Mumbai port has its origin or destination in Pune. A large chunk of the cargo goes through the crowded Mumbai-Pune Expressway which carries 110,000 vehicles daily.
A Virgin Hyperloop One system in the region could cut a two to three hour journey between the two cities to 25 minutes, with Branson saying the state's two largest economic centres would be combined into "a thriving, competitive megaregion".
Rob Lloyd, chief executive of Virgin Hyperloop One, said: “Based on McKinsey’s assessment of our technology, Virgin Hyperloop One-enabled supply chains can dramatically impact business bottom lines by reducing both finished goods inventory and required warehouse space by 25 per cent."
Collectively, we chose to call our Virgin Hyperloop-enabled cargo solution DP World Cargospeed, because speed is about more than just getting from A to B; it’s about optimising the entire end-to-end journey.
DP World Cargospeed will offer unprecedented customer experience, reliability and the freedom from having to plan too far ahead.
*Read more*: Richard Branson says India is planning to build a Hyperloop