Virgin Hyperloop has fired 111 of its staff because it abandons the concept of creating its system prepared for passenger use. The Financial Times is reporting that the corporate is completely specializing in transferring cargo, and has slashed nearly half of its complete workforce. A spokesperson confirmed to the paper that the shift in enterprise was happening, with provide chain points and COVID contributing to the change.

Since its inception, the corporate has been creating its vacuum-tube system to hold each passengers and freight. One of the earliest ideas VH floated was an “inland port,” through which cargo vessels would put containers onto capsules which can be shot inland earlier than they’re processed. That manner, the primary logistics hub wouldn’t have to be beside the ocean, and will as an alternative be on the coronary heart of a transit hub nearer to prospects.

It’s one thing that inspired DP World, the Dubai-owned ports and logistics big, to put money into the expertise. It at present holds a majority stake in Virgin Hyperloop and in 2018 launched “Cargospeed,” as a sub-brand devoted to transferring cargo. VH has, nevertheless, been in one thing of a spin for the previous couple of months after former head Josh Giegel, one among two folks to really journey in a pod, give up the corporate.