India should invest in the future, not bullet trains, says Hyperloop chairman
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Also read: Hyperloop One revealed the future of transportation at IGNITION 2016
The efficiency of this transportation system can be estimated by the time it would take to cover the distance between Mumbai and Pune, which is less than 40 minutes.
"India has a great opportunity to leapfrog to better modes of transportation," Gresta told ET.
Also read: The ousted co-founder of Hyperloop One launched a rival startup - and it plans to build a Hyperloop in just 3 years
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To procure funds worth $120 million for investment in India, HTT will be doing road shows starting next month. HTT’s manpower in India is 20-people strong, who work at home 10 hours a week in exchange for stock options. They get one stock option for every hour of work done.
In recent months, Gresta has met Nitin Gadkari, the minister for Road Transport, Highways And Shipping, along with CMs of Andhra Pradesh, Odisha, Jharkhand and Maharahstra.
"Mr Gadkari is keen on Mumbai-Pune Hyperloop. I believe that's the first Hyperloop route we could develop," Gresta added.
Also read: Hyperloop One asks Indians to identify the first busy route where it can bring ultra-fast transportation system
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Developing Hyperloop would cost $20-40 million per kilometre. "In India it could be cheaper. Hyperloop cost is comparable with traditional rail but is cheaper than high speed rail (like bullet train)," said Gresta.(Image source: The News for The Young Businessmen)
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