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China to form joint venture with Hyperloop Transportation Technologies

07/20/2018| 10:21:48 AM|

California-based Hyperloop Transportation Technologies is setting up a joint venture with a company controlled by the government of Tongren, a city in the Guizhou province.

Hyperloop Transportation Technologies, a California-based enterprise, is setting up a joint venture with a company controlled by the government of Tongren, a city in the Guizhou province. 

Each will contribute 50% of the capital for the venture, the city said in a statement Thursday. The test track will be no longer than 10 kilometers (6.3 miles), and the two parties will seek to expand it for commercial operations based on trial results and regulations.

Hyperloop Transportation Technologies, or HTT, is one of several companies formed to develop hyperloop systems since billionaire Elon Musk in 2013 released a manifesto detailing his idea for moving people at superfast speeds through a tube.

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TAGS: Hyperloop | Guizhou | joint venture
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