Correct Answer : Option (A) - Tata Steel
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.
* A high-speed, affordable, sustainable option for transportation of both people and goods is the hyperloop. Key components of the hyperloop system include tubes, capsules, propulsion systems, and track.
* Levitated autonomous pods move through a system of evacuated tubes. It promises to be 10 times more energy-efficient than rail and road transportation, utilise 2-3 times less area, and offer quicker journey times than flight.
* Steel and composite material design and development are Tata Steel’s primary areas of expertise.
* Tata Steel has chosen Hyperloop as an ideal breakthrough technology in the field of future mobility, in keeping with its strategy aim to produce future-ready sustainable business.
* A leader in this field, TuTr, a deeptech business based in India’s IIT Madras, promises a cheap hyperloop solution as its primary value proposition.
TuTr excels at designing propulsion systems and pods. Designing, developing, and scaling up the technology for commercialization are the shared goals of Tata Steel and TuTr.
* The 50m test track at IIT Madras will be the site of the phase-I activity.
* Phases II and III will see the completion of the ensuing work to create a 10-km track with the assistance of a group of additional industrial partners from the automotive, construction, and engineering sectors.
About TuTr Hyperloop :
* 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.
About Tata Steel : 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..
Source : Urbantransportnews