Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum attended the launch of a new company that will develop a hyperloop-based system to deliver freight at the speed of flight and closer to the cost of trucking.
DP World Cargospeed is a new venture created through a partnership between Dubai-based DP World and Virgin Hyperloop One, to provide cargo systems to support the fast, sustainable and efficient delivery of palletised cargo.
The company unveiled the concept at an event hosted by Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, and Sir Richard Branson, Virgin Group Founder and Virgin Hyperloop One chairman, aboard the historic cruiseship Queen Elizabeth 2, recently converted to a hotel and now permanently docked Dubai.
DP World Cargospeed systems will be used to transport high-priority, time-sensitive goods including fresh food, medical supplies, electronics, and more. It will expand freight transportation capacity by connecting with existing modes of road, rail and air transport, according to a statement issued by the Government of Dubai Media Office.
His Highness Sheikh Mohammed bin Rashid said: “The UAE is keen to be a leading player in shaping the future of the world. Being a pioneer means taking bold decisions that open the way for adopting innovative solutions. We have big aspirations because we have unlimited mindsets and the confidence that we can achieve whatever we set our minds to.”
Sultan Ahmed Bin Sulayem, said: “Throughout history, cargo has always been the catalyst for transport revolutions. With a bold vision for the future, Dubai has always pushed the boundaries of innovation. This spirit of innovation has enabled us to become a world leader in logistics.
“We have made a significant investment in Virgin Hyperloop One because we see the need for a hyperloop-enabled cargo network to support rapid, on-demand deliveries globally. We believe in Virgin Hyperloop One’s long-term vision. They are the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them.”
Sir Richard Branson, said: “The global growth of e-commerce is driving a dramatic shift in both consumer and business behavior. On-demand deliveries are a novelty today. Tomorrow it will be the expectation. DP World Cargospeed systems powered by Virgin Hyperloop One will enable ultra-fast, on-demand deliveries of high-priority goods and can revolutionise logistics, support economic zones, and create thriving economic megaregions.”
Hyperloop combines next-generation magnetic levitation technology with a low-pressure tube to enable pods to move quickly with little friction. It can achieve top speeds of up to 300 metres/second, making it two to three times faster than high-speed rail as well as being more cost-effective to build and operate.
Its fully electric and zero direct emissions also make it a more environmentally friendly technology.
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PHOTO: Courtesy of Government of Dubai Media Office