Hyperloop One, a high-speed freight transportation company, will shut down by the end of this year. The Los-Angeles-based firm, which completed the world's first passenger ride on a super high-speed levitating pod system in 2020, failed to win any contract to build a working hyperloop. It will sell off its remaining assets and terminate the employment for its remaining workers. Hyperloop One was founded in 2014 and was backed by United Arab Emirates shipping company DP World and British billionaire Richard Branson's Virgin.
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