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Mohammed bin Rashid attends launch of DP World Cargospeed

April 30, 2018  
29 April, 2018

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum today attended the launch of DP World Cargospeed, a new global company created through a partnership between global trade enabler DP World and Virgin Hyperloop One, to provide hyperloop-enabled cargo systems to support the fast, sustainable and efficient delivery of palletised cargo.

The first initiative of its kind in the world, DP World Cargospeed will provide exceptional service for high-priority, on-demand goods., delivering freight at the speed of flight and closer to the cost of trucking.

His Highness Sheikh Mohammed bin Rashid said: “The UAE is keen to be a leading player in shaping the future of the world. Being a pioneer means taking bold

decisions that open the way for adopting innovative solutions. We have big aspirations because we have unlimited mindsets and the confidence that we can achieve whatever we set our minds to.”

His Highness said that advanced technologies are at the centre of the UAE’s vision for development, which is driven by a deep understanding of the needs of the future. He underscored the importance of constantly exploring new technologies that can enhance efficiencies and processes while maintaining the highest levels of quality. His Highness hailed DP World’s contribution to world trade and its role in raising the UAE’s profile as a leader and pioneer in the trading sector.

The launch event was attended by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai.

DP World and the US-based Virgin Hyperloop One introduced their vision for the future of on-demand freight transportation enabled by DP World Cargospeed at an event hosted by Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, and Sir Richard

Branson, Virgin Group Founder and Virgin Hyperloop One Chairman, at the historic vessel Queen Elizabeth 2.

Sultan Ahmed Bin Sulayem, said: “Throughout history, cargo has always been the catalyst for transport revolutions. With a bold vision for the future, Dubai has always pushed the boundaries of innovation. This spirit of innovation has enabled us to become a world leader in logistics. We have made a significant investment in Virgin Hyperloop One because we see the need for a hyperloop-enabled cargo network to support rapid, on-demand deliveries globally. We believe in Virgin Hyperloop One’s long-term vision. They are the right partner to shape the future of global logistics, and we look forward to developing the first DP World Cargospeed systems with them.”

Sir Richard Branson, said: “The global growth of e-commerce is driving a dramatic shift in both consumer and business behavior. On-demand deliveries are a novelty today. Tomorrow it will be the expectation. DP World Cargospeed systems powered by Virgin Hyperloop One will enable ultra-fast, on-demand deliveries of high-priority goods and can revolutionise logistics, support economic zones, and create thriving economic megaregions.”

Hyperloop is a futuristic mode of passenger and freight transportation in which a pod-like vehicle is propelled through a near-vacuum steel tube, with most of its air removed, at higher than airline speed. Next-generation magnetic levitation technology combined with a low-pressure tube environment enables the pods to move quickly with little friction. Hyperloop can achieve top speeds of up to 300 metres/second, making it two to three times faster than high-speed rail. The technology facilitates autonomous operations designed to reduce human errors and run with minimal delays. Hyperloop is more cost-effective to implement and operate than high-speed rail. Its fully electric and zero direct emissions make it a highly environmentally friendly technology.

DP World Cargospeed systems, enabled by Virgin Hyperloop One technol

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