Reliance doubles stake in Skytran

Mukesh Ambani’s Reliance Industries Ltd has announced that it will double its stakeholding in in US-based SkyTran Inc to 54.46% from the present 26.3%, making an investment of US$ 26.76 million. The investment indicates his company’s vision for eco-friendly transport systems.

Skytran develops pods based on its proprietary magnetic levitation technology. These are aimed at easing the traffic congestion that has affected quality of life and economic development in cities across the world. A pod taxi is a driverless personal rapid transit system that travels on a predetermined course, either through overhead suspension or magnetic levitation. The company states on its website, “A SkyTran vehicle only stops at your chosen destination. Bypassing stations along the way, you travel at high-speed for the duration of your trip. This is the very definition of seamless point-to-point travel.” Besides this, the vehicles are electric and energy efficient with zero emissions.

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