Commuters can ride the hyperloop, a futuristic, super-fast transportation system, as early as 2020 and the United Arab Emirates could be the first market for it, according to the chief of one of the companies involved in developing the technology.
Dirk Ahlborn, CEO of Hyperloop Transportation Technologies (HTT), told CNBC on the sidelines of the Innovfest Unbound conference in Singapore that the company put the first hyperloop capsule into production three weeks ago.
It will take about a year to produce, after which it will head to the company's R&D center in Toulouse for integration optimization and then it'll head to the first commercial track, where construction will start later this year.
"We will be announcing one of the first commercial routes probably in between the next three to six months," Ahlborn said.
A hyperloop would work by propelling pods through a large tube at speeds of 750 mph using magnets, and is seen as a solution to long distance travel and also means of alleviating congestion. Other startups working on this technology include HTT rival Hyperloop One.
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Dirk Ahlborn, CEO of Hyperloop Transportation Technologies (HTT), told CNBC on the sidelines of the Innovfest Unbound conference in Singapore that the company put the first hyperloop capsule into production three weeks ago.
It will take about a year to produce, after which it will head to the company's R&D center in Toulouse for integration optimization and then it'll head to the first commercial track, where construction will start later this year.
"We will be announcing one of the first commercial routes probably in between the next three to six months," Ahlborn said.
A hyperloop would work by propelling pods through a large tube at speeds of 750 mph using magnets, and is seen as a solution to long distance travel and also means of alleviating congestion. Other startups working on this technology include HTT rival Hyperloop One.
Read More
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