Skip to content
Subscriber Only
Technology
Hyperdrive

Hyperloop Startup Gets Ready to Take on Musk

  • TransPod aims to raise $50 million by the end of this year
  • Canadian firm’s CEO says technology is more realistic, cheaper
TransPod's hyperloop.

TransPod's hyperloop.

Source: TransPod

From

A Canadian startup is the latest contender in the race to build a super-fast transportation system to rival futuristic projects backed by Elon Musk and British tycoon Richard Branson.

TransPod wants to raise $50 million for its own version of hyperloop technology, designed to ferry passengers at speeds of more than 1,000 kilometers (622 miles) an hour. The Toronto-based company is planning to build a half-size prototype near Limoges in central France by next year that’s better than a concept put forth by Musk, according to Chief Executive Officer Sebastien Gendron.