Richard Branson’s Virgin Group Is Investing in Hyperloop One

The Virgin group of Britain’s Richard Branson is investing in the Hyperloop One project that aims to popularise trains that run on magnetic levitation (maglev).

Branson told CNBC Thursday that Hyperloop One, originally founded by Tesla Motors owner and CEO Elon Musk, will be renamed “Virgin Hyperloop One” and will focus on developing a mixed freight and passenger service.

Last month, the company had raised $85 million in new funding, of which an unspecified share came from Virgin. The...

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