Swiss transportation technology company Swisspod and TuTr Hyperloop will collaborate to establish a robust framework for cooperation in the development and deployment of hyperloop technology within India.
TuTr Hyperloop is a deep tech incubated startup at IIT Madras. It designs and develops ultra-high-speed ground transportation systems, among others.
Both companies together with the governments of Switzerland and India signed a Memorandum of Understanding (MoU), a release said on Friday.
Jointly, Swisspod and TuTr Hyperloop will spearhead the design and funding of a testing centre in India that will serve as a hub for refining hyperloop technology, facilitating various experiments and validating its feasibility in real-world conditions.
The two companies will pool their expertise and resources to accelerate research, testing, and innovation in the field, ensuring the safe, efficient, and reliable progression of hyperloop systems.
They also plan to “explore and assess potential commercial hyperloop transportation routes in India, and develop a strategic blueprint for financing and constructing the system,” the release said.
Swiss Ambassador to India and Bhutan Ralf Heckner said companies such as Swisspod Technologies are already paving the path for the private sector’s leadership in implementing the Trade and Economic Partnership Agreement signed recently between the EFTA countries and India.
“With the right policy support and FTA agreement framework, I am positive that the economic ties between Switzerland and India will continue to strengthen,” he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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