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article imageHyperloop TT signs agreement to build track in China

By Karen Graham     Jul 19, 2018 in Technology
Hyperloop Transportation Technologies announced the signing of an agreement with Tongren Transportation & Tourism Investment Group of the People's Republic of China on July 20 to build a Hyperloop track in Guizhou, China.
High-speed hyperloop technology has become a reality across the world. From the likes of Canada's TransPod Inc to Elon Musk's Boring Company and Richard Branson's Hyperloop One. countries and cities across the world are interested in these high-speed transportation systems.
Founded in 2013 and headquartered in Los Angeles, California, Hyperloop TT is a global team comprised of more than 800 engineers, creatives, and technologists in 52 multidisciplinary teams. They also have offices in Abu Dhabi and Dubai, UAE; Bratislava, Slovakia; Toulouse, France; Contagem, Brazil; and Barcelona, Spain.
This is the third commercial agreement for Hyperloop TT. It has also signed agreements for their hyperloop system in Abu Dhabi and Ukraine earlier in 2018, according to the press release.
The signing ceremony in China
The signing ceremony in China
HyperloopTT
A crucial victory signing China
As Engadget points out, at first glance, it may seem that Hyperloop TT is lagging behind their competitors, but actually, signing an agreement with China is a really big deal. The deal gives HTT a foothold in China, a country with deep pockets for infrastructure spending.
The last deal HTT made was for a 10 kilometer (6.2 miles) hyperloop track in Abu Dhabi, the capital of the United Arab Emirates. But that track won't be completed until 2020, and it appears that HTT doesn't want to wait around for that to happen.
The Hyperloop will be built in the Chinese province of Guizhou, home to the Guiyang Technological Development Zone.HTT will be working in partnership with the government of Tongren in defining the route for the system and will cover the same length as the Abu Dhabi track.
Hyperloop One.
Hyperloop One.
Hyperloop TT
And, as is standard with foreign companies in China, HTT will have to form a Chinese entity because they have to have a "local" connection. Htt will be responsible for designing the technology, providing the engineering expertise and designing "essential equipment." This probably means the pods and maglev technology that HTT has licensed.
As for the Chinese, the city and its people will be in charge of certifying the tube, building a series of regulations and the actual construction of the Hyperloop system. Financing is to be split 50/50, with the city paying half and the rest sourced from HTT, and/or investors.
Park & buildings in Guiyang  Guizhou  southern China
Park & buildings in Guiyang, Guizhou, southern China
Mrspaceman at English Wikipedia.
Guiyang Economic and Technological Development Zone
The Guiyang Economic and Technological Development Zone was created 18 years ago as a way to bring technology companies into the region, making it an integral part of the province.
Guizhou's location is a crucial part of China's 'Silk Road Economic Belt' initiative. More than $100 billion has been invested in transportation and financing in the past five years, which has resulted in 69 highway projects and more than 3,542 miles of new roads.
Guizhou has made multiple innovations in the technology space, and the province is now the location of China’s first big data pilot zone. Five years ago, there were only a few big data companies in Guizhou; now, there are thousands, including the likes of Foxconn, Microsoft, Huawei, Tencent, Qualcomm, and Alibaba.
More about Transportation, Hyperloop, Infrastructure, HTT, china contract