Move Over Bullet Trains, Hyperloop Could Solve India’s Need For Speed
India could well be one of the first countries in the world to conduct the trial of super-fast transportation system Hyperloop, if a proposal pending before the transportation ministry gets approved, Bibop Gresta, co-founder of Hyperloop Transportation Technologies told BloombergQuint.
The company has submitted a letter of intent (LoI) to Transport Minister Nitin Gadkari and is awaiting a response.
I recently met Nitin Gadkari and after several follow-ups we have submitted a proposal before him. Once it is signed we will immediately start the feasibility study in India,Bibop Gresta, Co-Founder, Hyperloop Transportation Technology
Once the ministry signs the LoI, the company will need around eight months to conduct a feasibility study, Gresta said. “Then after we get land permits, we can build a technically feasible Hyperloop in 38 months,” he added.
The Narendra Modi government has been toying with the idea of building high-speed bullet trains in India. Hyperloop is a cheaper alternative, Gresta said.
It takes about $100 million to build a kilometre of high-speed rail network, while it will take only $40 million for a Hyperloop network.Bibop Gresta, Co-Founder, Hyperloop Transportation Technology
What Is Hyperloop?
It's a futuristic passenger and freight transportation system, the idea for which was first floated by Tesla Motors and SpaceX founder Elon Musk in 2013.
“Hyperloop is essentially a capsule hovering inside a tube with very minimal air to create vacuum. Since there is no resistance you can levitate without using any energy. With passive levitation, you can push the capsule at almost the speed of sound,” Gresta explained.
The tube can travel at a speed of 1,223 kilometre per hour. It has taken the founders about three years to fully develop the technology, which will allow commuters to travel between Mumbai and Pune in just 25 minutes.
The company has already signed a feasibility study with the Abu Dhabi government to build a track between Abu Dhabi and Al Ain. It is also in talks with 20 other countries including Slovakia, Saudi Arabia, Chile, Spain and France.
Gresta said the company is heavily funded, having recently raised $100 million, and is also in talks with Indian investors for Series B funding.
Not Backed By Elon Musk
Gresta said Elon Musk has not invested in the company in any capacity.
“Elon has been a big support and has pushed us to make it happen but hasn't invested in the company. We were the first company to build this technology and own patents for passive levitation,” he said.
India is scheduled to get its first bullet train only by 2023, connecting Ahmedabad and Mumbai. The project is estimated to cost $15 billion and will have a maximum design speed of 350 kilometres per hour, with an operating speed of 320 kilometres per hour.
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