DP World and Virgin Hyperloop One have partnered to create new global company, DP World Cargospeed, which it says will allow goods to be delivered anywhere in the world in 48 hours.
The first initiative of its kind in the world, DP World Cargospeed will provide exceptional service for high-priority, on-demand goods., delivering freight at the speed of flight and closer to the cost of trucking, according to the companies.
The launch was attended by Virgin’s owner, Sir Richard Branson, and Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum.
His Highness Sheikh Mohammed bin Rashid said: “The UAE is keen to be a leading player in shaping the future of the world. Being a pioneer means taking bold decisions that open the way for adopting innovative solutions. We have big aspirations because we have unlimited mindsets and the confidence that we can achieve whatever we set our minds to.”
DP World Cargospeed systems, enabled by Virgin Hyperloop One technology, will transport high-priority, time-sensitive goods including fresh food, medical supplies, electronics, and more. It will expand freight transportation capacity by connecting with existing modes of road, rail and air transport.
Rob Lloyd, CEO of Virgin Hyperloop One, said: “Based on McKinsey’s assessment of our technology, Virgin Hyperloop One-enabled supply chains can dramatically impact business bottom lines by reducing both finished goods inventory and required warehouse space by 25%.
“Collectively, we chose to call our Virgin Hyperloop-enabled cargo solution DP World Cargospeed, because speed is about more than just getting from A to B; it’s about optimising the entire end-to-end journey. DP World Cargospeed will offer unprecedented customer experience, reliability and the freedom from having to plan too far ahead.”
Hyperloop is a futuristic mode of passenger and freight transportation in which a pod-like vehicle is propelled through a near-vacuum steel tube, with most of its air removed, at higher than airline speed. Next-generation magnetic levitation technology combined with a low-pressure tube environment enables the pods to move quickly with little friction.
Hyperloop can achieve top speeds of up to 300 metres/second, making it two to three times faster than high-speed rail.
Sir Richard Branson, said: “The global growth of e-commerce is driving a dramatic shift in both consumer and business behavior. On-demand deliveries are a novelty today. Tomorrow it will be the expectation.
“DP World Cargospeed systems powered by Virgin Hyperloop One will enable ultra-fast, on-demand deliveries of high-priority goods and can revolutionise logistics, support economic zones, and create thriving economic megaregions.”