Tag: skytran

[SkyTran in Urban Transport News] Mukesh Ambani-led Reliance Strategic invests $26.76 million in SkyTran, USA

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...

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[SkyTran in Beebom] Virgin Hyperloop One to Face Competition from Reliance-Backed skyTran in India

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...

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