Watch: Virgin Hyperloop One Seeks to Reshape The Shipping Industry With Cargospeed
Virgin Hyperloop One and logistics firm DP World have teamed up. DP World Cargospeed could utilize Hyperloop technology for a new supply system for high-priority shipments. Pallets of cargo could be transported at speeds in excess of 600 mph. What currently requires a 23-hour flight or a four-day truck journey could be completed in as little as 16 hours.
Target markets include medical supplies, fresh food, and electronics. “Two elements control freight transport: cost and speed. If you want something fast, be prepared to pay a high multiple. If you can wait several days, ship it via ground transportation, and it will be cheaper. We’re looking to change that equation.”