The Virgin Group signed an intent agreement to build a hyperloop transportation system between Mumbai and Pune, which aims to reduce the travel time between the two cities to 25 minutes from the earlier 3 hours of travel.
"We have signed an agreement with Maharashtra to build a Virgin Hyperloop between Mumbai and Pune, beginning with an operational demonstration track in the region," Virgin Group chairman Richard Branson said.
Mr. Branson said, “The proposed hyperlink system will transform the transportation system and make Maharashtra a global pioneer in the space. The socio-economic benefits of the project is $55 billion, and will create thousands of jobs.”
The first hyperloop route will link central Pune with Mumbai and the proposed Navi Mumbai international airport. With easier access to airport gates, the Hyperloop will be able to ferry 150 million passengers every year.
Details such as the project cost and a timeline are yet to be announced. The Hyperloop route will be a fully electric system and will have the capability travel up to 1,000 km per hour.