The signing ceremony took place at the Swiss Residence in New Delhi, where Dr Ralf Heckner, the Swiss Ambassador to India and Bhutan, hosted the event. Jaya Varma Sinha, Chairperson and CEO of the Railway Board of India, was the Chief Guest of the ceremony.

The main goal of the MoU is to establish a strong framework for cooperation in the development and implementation of hyperloop technology in India, laying the foundation for future sustainable mobility.

Swisspod and TuTr Hyperloop will combine their expertise and resources to expedite research, testing, and innovation in the field, ensuring the safe, efficient, and reliable advancement of hyperloop systems. They plan to investigate and evaluate potential commercial hyperloop transportation routes in India and formulate a strategic plan for financing and constructing the system.

In a collaborative effort, Swisspod and TuTr Hyperloop will lead the design and funding of a testing center in India, which will act as a focal point for refining hyperloop technology, facilitating various experiments, and validating its feasibility under real-world conditions.

Jaya Varma Sinha, Chairperson and CEO of the Railway Board of India, emphasized the importance of government support and incoming investments in the ongoing transformation of Indian Railways. She mentioned the incorporation of technologies such as semi-high-speed trains like Vande Bharat and expressed optimism about enhancing aspects like passenger experience and cargo transit guarantee in the coming decade. She highlighted the significance of staying abreast of developments shaping the future of transportation and regarded Hyperloop as an exciting advancement in high-speed transport. She stressed the paramount importance of safety and expressed confidence that the collaboration between India and Switzerland would prioritize safety in the development of this technology.