The company, which became well known for its idea of shooting people hundreds of miles an hour through a vacuum, has shut down.

Hyperloop One, founded by Elon Musk, aims to reduce journey times. Virgin founder Richard Branson withdrew last year, and the company plans to lay off its remaining staff by year-end.

Hyperloop One’s high-speed, greener, and stalled project, involving magnetic levitation technology, faced engineering challenges and doubts due to large-scale construction and cornering issues.

In 2020, Virgin launched the first hyperloop passenger ride, but faced job cuts and scandals, losing Virgin’s endorsement and losing its chairman’s endorsement. The company faced scandals and scandals.

Elon Musk’s 2013 report on hyperloop technology, backed by The Boring Company and other companies, suggests high-speed capsule shooting through tubes.