Virgin Hyperloop One now officially has British billionaire Richard Branson as its chairman, along with $50 million more in funding for its rapid-transit development effort.
The company also reported that its test pod reached a top speed of 240 mph during its Phase 3 round of testing, which finished up last week. The tests took place at Virgin Hyperloop One’s 500-meter (1,640-foot) DevLoop test tunnel in Nevada.
Phase 3 tested the prototype pod’s electric motor, control system and magnetic levitation system, as well as the tunnel’s vacuum system and air lock.
