Russian Railways Interested in Elon Musk's High-Speed Trains

John Locher / APPeople stand in a metal tube after a test of a Hyperloop One propulsion system.

The Russian Railways state monopoly recently created a joint working group with the U.S. company Hyperloop One, which is researching the possibility of developing Elon Musk's high-speed trains project, the Vedomosti newspaper reported Thursday,

The group was created a few months ago, spokesperson for the Russian Summa Group Yekaterina Grishkovets told Vedomosti. Summa Group's venture company Caspian VC is one of the investors in Hyperloop One. Grishkovets didn't specify how the companies are planning to cooperate.

According to an unidentified source close to Russian Railways, the working group is studying the possibility of using technologies invented by tech billionaire Elon Musk. The working group is now waiting for the results of the recent testing of high-speed Hyperloop trains, the source said.

The source also added that the initiative came from the U.S. company.

The Hyperloop system allows trains to reach speeds of about 1,200 kilometers per hour.

The first tests of the system were carried out in the U.S. earlier in May, Vedomosti reported.

Hyperloop One and Russian Railways declined to comment when contacted by the newspaper.

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