The Minister of Economy said the technology developed by the company is unprecedented in the world, which promotes curiosity and interest. ‘Innovative technology solutions drive progress, we are therefore interested to continue the dialogue and to explore possibilities for Lithuania to support the implementation of this futuristic idea,’ said Mr Sinkevičius.
The Minister noted that Lithuania might contribute to the development and implementation of the Hyperloop One concept by means of creating IT systems and business models; the first step however should be to await the results of the first testing planned in Nevada in the near future.
The Hyperloop One representatives said the technology has improved significantly in recent years. The speed of the capsule is estimated to reach 300 m/sec, which will make 1 080 km/h.
This rapid transport system idea was introduced in 2013 by Elon Musk, a famous US businessman, inventor and the founder of Tesla. The technology is planned to be launched in 2021; which country is first to run it will merely depend on local governments.
In addition to the meetings with representatives of Lithuania, the technology developers have already visited 6 countries; they also have had talks with representatives of the European Commission. They say, serious negotiations are going on with Finland and the Netherlands; Lithuania and other Baltic States might be potential project participants.
Urban was founded in 2014 by Jack Tang and Giles Williams to provide easy and affordable access to...
Lithuanian banks and branches of foreign banks in Lithuania earned almost 358 million euros (406...
In the ever-growing European alternative finance market, Lithuania - together with other Baltic...
Dana Incorporated, a world leader in highly engineered solutions for improving the efficiency,...