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Richard Branson wants ‘ridiculously exciting’ hyperloop up and running within three years

Hyperloop transport promises to be faster than air travel but at a fraction of the cost

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A rendering of a Hyperloop by Hyperloop Transportation Technologies. Photo: Hyperloop Transportation Technologiesvailable.

By Natasha Turak

Virgin Group CEO Richard Branson wants to see hyperloop become a reality, and he wants it fast, he told CNBC from Dubai.

The British billionaire entrepreneur and philanthropist chairs Virgin Hyperloop One, one of a few companies racing to develop the technology that it’s hoped will revolutionise transportation of people and goods. And he sees it becoming operational in the next two to three years.

“The reason I became chairman of this company, I found this ridiculously exciting,” Branson told CNBC’s Hadley Gamble in an exclusive interview. “I think if we can build Virgin Hyperloops in a number of different countries, connecting countries, that will bring the world much closer.”

First envisioned by Tesla founder Elon Musk in 2013, hyperloop transport promises to be faster than air travel but at a fraction of the cost. The concept is designed to propel pods through a large tube underground at speeds of 750 mph using magnets.

Its developers hope to implement the technology around the globe. Hundreds of millions of dollars have already been invested in designing the systems.

“When you’re talking about the pods going at six, seven, 800 miles an hour, both with people and cargo, that’s tremendously exciting,” he said, describing the ability it will allow people to avoid traffic jams by “jumping into a pod.”

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