Logistics firm DP World and Virgin Hyperloop One have launched a new company for hyperloop-enabled cargo systems to transport palletised goods.
Named DP World Cargospeed, the company says it will be able to deliver “freight at the speed of flight and closer to the cost of trucking”.
Time-sensitive goods that could travel at speeds of up to 1000 km/h through a hyperloop system include fresh food, medical supplies and electronics, according to the new firm.
DP World Group CEO Sultan Ahmed Bin Sulayem said: “We have made a significant investment in Virgin Hyperloop One because we see the need for a hyperloop-enabled cargo network to support rapid, on-demand deliveries globally.
“We believe in Virgin Hyperloop One’s long-term vision. They are the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them.”
Virgin Hyperloop One chair Richard Branson added: “The global growth of e-commerce is driving a dramatic shift in both consumer and business behaviour.
“On-demand deliveries are a novelty today. Tomorrow it will be the expectation.”
The Virgin Hyperloop One said that the system underpinning DP World Cargospeed won’t necessarily be just for cargo and could also be used to transport passengers too.