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 6, 7, 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.”
The conversation took place as Virgin Hyperloop One and its major investor, Dubai-based port operator DP World, announced a joint collaboration to launch DP World Cargospeed, which plans to develop hyperloop transport for cargo. Branson also discussed his plans to break ground in India as well as announce projects in new countries within the next few months.