News broke out that Hyperloop One organization eventually settled the lawsuit procured by four former employees (see my previous post for more details on the case). CEO of Hyperloop One, Rob Lloyd, sent an email out to all employees giving notice that the coast is clear.
“Lawsuits can be distracting for companies; they often halt momentum until they can be resolved. That didn’t happen here,” said Lloyed to his staff, The Verge reports.
Though it may not have distracted the team from working towards their dream goals, this internal dispute may have prevented outside funding from coming in at a liquid-from-the-tap pace. When an inside voice comes out with allegations that the boss left a hangman’s noose at his desk, it seems likely that a few investors would think twice about jumping to the opportunity of injecting their funds in an organization with such managerial (in)stability.
What is most important here is that now, with the air cleared behind their name, Hyperloop One can continue to give 100% percent into the development and testing of its ultrafast transportation device. This is good news because at the given moment they face heated competition on the playing field for the Indian market.
In the meantime, Hyperloop Transportation Technologies (HTT) — the other dominant organization and Hyperloop One’s main competitor in bringing this idea to the market — have their eyes on the potentially high-reward Indian market as well.
See the video below of Bibop Gresta, COO and chairman for HTT, and what he told FactorDaily regarding future trial runs in India.
As soon as Gresta and Co. get the nod from the Indian transport industry, HTT is on their way. Gresta claims they are the original Hyperloop in India, however, what is more important now is who strikes a deal first.
What is so attractive about the Indian atmosphere is the dire need for new transport infrastructure and Musk’s visionary Hyperloop concept proposes to solve this pain.
Alan James, VP of Global Business Development at Hyperloop One, explains his motivation to enter the Indian market in a recent interview with The Economic Times;
There currently exists “the pressing imperative to upgrade India’s freight and passenger transport infrastructure so that it is ‘fit for purpose’ as India cements its position as one of the 21st Century’s powerhouse economies,”
For the next few years, India may embody the most radical transition in transport amongst the 3rd millennium. Cooperation with Indian government as well as key Indian businesses is crucial for both companies’ success in the region.
“We are going to hold an event in India,” James insists, “in early 2017.”
Stay on top of the business negotiations and keep an eye out for an upcoming Indian-Hyperloop deal, which is surely a toss-up at the moment.