Hyperloop Transportation Technologies (Hyperloop TT) aspires to build 2,000 kilometers futuristic Hyperloop lines in China one day, says the firm's co-founder and chairman Bibop Gresta.
"We are talking to five provinces right now. Guizhou is the first one we signed," Gresta told China Money Network during an interview on the sidelines of the Annual Meeting of the New Champions held by the World Economic Forum in Tianjin.
https://youtu.be/Uw3a-Hi2yY8
Hyperloop TT has already sealed a deal with Guizhou province in China's southwestern region to build its first track in the country, the company said in an announcement two months ago. The deal marks the third commercial agreement for Hyperloop TT, following announcements on similar agreements in Abu Dhabi and Ukraine earlier in 2018.
"In the future, we will not build, maintain or operate anything but act as a licensing company with enormous knowledge and intellectual property (IP) technologies," Gresta said. "In Guizhou, we are foreseeing a six-month feasibility study, and then 38 months to implement the first line. We are talking about an overview of a maximum of five years to add the first passenger in China. Then we are planning to roll out 2,000 kilometers in China."
According to the People's Daily, the hyperloop project in Tongren, Guizhou province, is expected to cost about RMB10 billion (US$1.5 billion), covering a total distance of 60 kilometers (37.2 miles).
The California-based Hyperloop TT focuses on building hyperloop systems enabling capsules to travel in a vacuum tube, an idea first proposed by technology magnate Elon Musk. The technology is said to be able to move capsules reaching speed of up to 1,223 kilometers per hour (760 mph).
Hyperloop TT's ambitious plans in China comes at a time when the country is embroiled in a fierce trade war with the United States. The White House and U.S. President Donald Trump have repeatedly blamed China for unfair trade practices, IP infringements, and forced technology transfers. Gresta also discussed how his company deals with intellectual property protections when doing business in China.
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Q: For those who are not familiar, please give us a brief introduction of hyperloop Transportation Technologies?
A: My company is the first company to bring Elon Musk's vision to travel inside a tube at the speed of sound into reality. Imagine putting a capsule full of people inside a tube, sucking the air out of the tube so there's no resistance, and you can move people from point A to point B at almost the speed of sound using a tiny fraction of energy. Sounds like science fiction but we are actually building it.
Q: How much progress have you made in R&D? How ready is this technology now?
A: We have finished all the testing and prototyping, and now construction has started. There is a big prototyping construction in Toulouse, France. It will be divided into two parts. One is 320 meters and the other is 1.4 kilometers. This is the certification track which will also be used to certify the technology.
We have already started the development of the first commercial line in Abu Dhabi. Most recently, we signed a deal with the local government in Tongren City in Guizhou province to build the first commercial line in China.
Q: Certainly, there is a lot of potential, but there are also lots of criticisms and questions about how the technology will be realistic in terms of costs and potential risks. One of those criticisms comes from the consideration for safety.
Could you tell us a little bit about safety concerns and how do you plan to handle this issue?
A: All the criticisms are based on the initial designs of the hyperloop. Nobody has really looked into what we are doing. The most important thing you have to understand about the hyperloop is that it is based o...
