On December 23, 2022, Tata Steel and TuTr Hyperloop signed a Memorandum of Agreement (MoA) at IIT Madras to collaborate on the development and wide-scale use of Hyperloop technology. The primary study topics will concentrate on the most important design and material selection problems.
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A deeptech startup named TuTr Hyperloop is dedicated to creating hyperloop technologies. It aims to offer consumers quick, dependable “on-demand” transportation that is less expensive and more environmentally friendly than traditional forms of transportation. At the IIT Madras Discovery campus, the first hyperloop test track in India (and Asia) is now being built. TuTr hopes to use its collaboration with IIT Madras and proximity to India’s greatest deep tech ecosystem to spur the creation of affordable Hyperloop technologies that will improve a variety of sectors’ productivity by addressing their problems with the flow of goods.
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The 34 million tonnes of crude steel that the Tata Steel Group can produce annually places it among the top steel producers in the world. With activities and a global commercial presence, it is one of the most geographically diversified steel producers in the world. The group’s consolidated revenue for the fiscal year that ended March 31, 2022, was US$32.83 billion.
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