Virgin Galactic and Virgin Hyperloop One extend relationship with the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia (KSA)
April 04, 2018
The His Royal Highness Crown Prince Mohammad bin Salman Al Saud, Sir Richard Branson and the management teams of Virgin Group’s space businesses and Virgin Hyperloop One today entered the next stage of their relationship. This will see all parties come together around the Kingdom of Saudi Arabia’s Vision 2030, the long-term diversification strategy spearheaded by Crown Prince Mohammad bin Salman to bring wide ranging economic, social reforms, and modernization to the Kingdom. The Mojave visit follows the October 26, 2017 announcement that the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia (KSA) intends to invest approximately $1 billion into Virgin Group’s US based space companies, Virgin Galactic, The Spaceship Company and Virgin Orbit. “The Kingdom of Saudi Arabia is at the forefront of innovative thinking around many new technologies as part of its Vision 2030. This is particularly true in two areas where we at Virgin are particularly focused; next generation space travel and Hyperloop technology. We look forward to extending these relationships further and welcoming their talented engineers into our Hyperloop test program,” Sir Richard Branson highlighted.