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February 24, 2022 10:00 am

Virgin Hyperloop Shifts Its Focus From Passengers To Cargo

Virgin Hyperloop recently fired half of its workforce as the company is shifting its focus from transporting passengers to cargo, Financial Times reported. Interesting Engineering reports: Services of a total of 111 members of its staff were terminated in what was an unanticipated move according to the employees. A company spokesperson told FT that the COVID-19 pandemic had changed many things and the company was shifting focus to address the needs of the global supply chain. With a leaner staff setup, the company was hopeful of becoming more agile and cost-efficient as it focused on the cargo segment. DP World, a state-owned logistics group that holds a 76 percent stake in Virgin Hyperloop, told FT that 15 of its potential customers were interested in moving cargo through its infrastructure rather than humans since it involved less risk and required less regulatory approvals. According to a Fortune report though, the company has found only one potential client in its lifetime, Saudi Arabia which is now keen on building a hyperloop cargo link between its port city of Jeddah and capital city of Riyadh. DP World spokesperson also told FT that profits from the project could be reinvested in building the human-compatible Virgin Hyperloop in the future.

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