Hyperloop One (backed by Elon Musk) has already shown their interest in India. And after getting approval from the Indian government, they are planning to work full fledge. The futuristic high-speed transport promoter has scheduled an event in New Delhi on February 28.

Hyperloop was announced in 2013. The system proposes to propel pod-like vehicles through a near-vacuum tube at speeds close to 1200 km/h. The company is creating a new mode of transportation which is apparently four times faster than high-speed rails for 67% of the cost to deploy and operate.

ALSO READ: SpaceX Dragon Spacecraft With 2,500 Kgs Of Experiments Launched

Hyperloop One

Hyperloop One

Last year, Hyperloop has announced a worldwide competition in May to “locate, identify and select the locations around the world with the potential to develop and construct the world’s first hyperloop networks.” Hyperloop is projected as the fastest way to travel between two places.

ALSO READ: Japan Is Set To Build World’s Fastest Supercomputer, Invests $173 Million

Hyperloop One

Out of 35 participants, 5 selected finalists will make presentations for the event, which to be held in New Delhi. Minister of Railways, Suresh Prabhu, Niti Ayog CEO Amitabh Kant, Shervin Pishevar, Executive Chairman and Co-Founder of Hyperloop One will be present at the event.

ALSO READ: Hyperloop To Come In India: Pune To Mumbai In 30 Minutes!

The company is potentially looking at five Indian sectors, where the system can be built: Delhi-Mumbai, Bangalore-Thiruvananthapuram, Chennai-Bangalore, Mumbai-Chennai and a ‘Port Connector’ project.