China Is Investing In Its Own Hyperloop To Clear Its Crowded Highways
The race to open China’s first hyperloop track is on. The latest move to address this urban traffic nightmare: Chinese state-backed companies are making heavy investments in U.S. hyperloop startups Arrivo and Hyperloop Transportation Technologies, lining up $1 billion and $300 million in credit respectively. Transport company Arrivo is focusing on relieving highway traffic by creating a separate track that allows cars to zip along at 200 miles per hour (320 km/h) on magnetically levitated sleds inside vacuum-sealed tubes (it’s not yet clear if this will be above ground or underground). Building a hyperloop is expensive. We don’t know yet whether China’s hyperloop investments will pay off and significantly reduce traffic in China’s urban centers.