Tag: skytran

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skyTran, the US-based developer of an innovative Personal Rapid Transit solution, has chosen Ricardo to perform a rigorous safety assessment of its magnetic levitation technology. Read more...

Mumbai, India (Urban Transport News): Reliance Strategy Business Ventures Limited (RSBVL), a subsidiary company of Billionaire Mukesh Ambani-led Reliance Industries’ on Sunday said that is has acquired an additional equity stake in US-based SkyTran Inc. for a consideration of  US $26.76 million, increasing its shareholding to 54.46% from 26.3% on a fully diluted basis.  Read more...

Following Elon Musk’s Hyperloop ideation in 2013, several companies jumped on board to capitalize on the technology. Virgin Hyperloop One is one prominent company that has been working on Musk’s magnetic levitation-based, carbon emission-free transportation technology. It is aiming to introduce the futuristic mode of transportation in India in the coming years. The company already has three ongoing projects in the country. However, as per a recent report, Reliance Industries chairman Mukesh Ambani also aims to bring a similar kind of transportation to India to compete with Virgin Hyperloop One. Read more...

Reliance Industries Ltd (RIL) has more than doubled its stake in US-based SkyTran Inc., underscoring the oil-to-retail conglomerate’s ambitious plans for eco-friendly transportation systems. Read more...