Elon Musk’s concept for the future of high-speed transportation may be about to develop some Chinese characteristics as the nation’s largest railway equipment manufacturer is in talks for a potential investment in Hyperloop Technologies Inc.
According to Bloomberg, anonymous sources have said that China’s CRRC Corp, the largest train manufacturer in the world, is engaged in initial talks with the US firm over opportunities for collaboration and investment.
Hyperloop is a conceptual high-speed transportation system put forward by Elon Musk in 2013 which would see capsules flying at speeds of up to 1,220 km/h (760 mph) down reduced-pressure tubes between Los Angeles and San Francisco.
Hyperloop Technologies was founded by a team of Silicon Valley venture capitalists and engineers in 2014. Former Cisco Systems Inc. president Rob Lloyd joined as chief executive officer in September. Rumor has it that Lloyd will be flying to China to meet with representatives from CRRC in the coming months.
“We are speaking with potential customers and partners around the world but do not comment on any specific customer meetings,” Lloyd said in an e-mailed statement.
In recent years, Chinese rail companies have been pushing for involvement in US infrastructure projects. In September of last year, China Railway International USA announced that it would be entering into a joint venture with local partners to develop a high-speed railway between Los Angeles and Las Vegas.