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June 22, 2016

Hyperloop One and Summa sign a deal for first Hyperloop system in Russia

Hyperloop One has signed a memorandum of understanding (MoU) with infrastructure firm Summa Group to explore building a Hyperloop system in Russia.

Hyperloop

Hyperloop One has signed a memorandum of understanding (MoU) with infrastructure firm Summa Group to explore building a Hyperloop system in Russia.

The companies have agreed to conduct a feasibility study to identify a route for passengers to connect with Moscow’s transportation grid.

Hyperloop is a high-speed transportation concept developed by Elon Musk. Designed to move pods of people at high-speed, It involves firing frictionless vehicles through a near-vacuum tunnel. This solar-powered concept is expected to be reliable regardless of weather conditions.

Summa Group’s owner Ziyavudin Magomedov said: "The implementation of Hyperloop technology provides tremendous benefits to the Russian Federation in terms of the geopolitical development of the intracontinental transit potential and building of an economically attractive alternative to the existing global logistics flows.

"In the long term, Hyperloop could catalyze the development of regional economic integration, including the Eurasian Economic Union and the Chinese initiative ‘One Belt, One Road’."

Hyperloop One’s co-founder and executive chairman Shervin Pishevar said: "We are excited for the partnership between Summa Group, the Russian Government, and Hyperloop One to construct a system in Moscow.

"Our long-term vision is to work with Russia to implement a transformative new Silk Road, a cargo Hyperloop that whisks freight containers from China to Europe in a day."

Currently, Hyperloop One is carrying out similar feasibility studies in Finland and Sweden, the Netherlands, Switzerland, Dubai, the Port of Los Angeles, and the UK.


Image: Hyperloop is a high-speed transportation concept by Tesla Motors and Elon Musk that is designed to move pods of people at high speed. Photo: courtesy of PRNewsFoto / Hyperloop Transportation Technologies.

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