Study demonstrates overall increase in GDP of 4.7 per cent, ERR of 13.78 per cent
TORONTO – April 2, 2019 – TransPod, the startup that is building the world’s leading hyperloop system (the TransPod Line) to disrupt and redefine commercial transportation, today released the results of its pre-feasibility study for a TransPod hyperloop line in Thailand from Bangkok to Chiang Mai, with an extension to Phuket.
The study demonstrates that a TransPod transportation system would result in an economic rate of return (ERR) of 13.78 per cent for five years of construction and 30 years of operation, and an increase in gross domestic product (GDP) of 4.7 per cent. The company presented the results in partnership with the leader of Thailand’s national Future Forward Party, with a joint goal to advance the country’s infrastructure and elevate its position as Southeast Asia’s leader in tech innovation.
TransPod’s pre-feasibility study highlights the benefits of a TransPod line, which include the following:
- Economic benefits:
- Increase in national GDP: 4.7 per cent
- Economic rate of return (ERR): 13.78 per cent
- Total number of jobs created: 184,000 jobs
- Environmental benefits:
- Reduction in carbon emissions: 1.2 million tonnes per year
- Human benefits:
- Savings on travel time: 200 million hours per year
- Reduction in road traffic fatalities: 16,000 casualties per year
“As the next up-and-coming leader in digital and tech innovation, Thailand is focused on long-term growth that will improve its competitiveness in the region,” said Sebastien Gendron, co-founder and CEO, TransPod Inc. “The results of the pre-feasibility study are incredibly promising and demonstrate enormous potential for significant improvements to Thailand’s economy as well as the daily lives of its citizens. By engaging TransPod to support the development in the Bangkok – Chiang Mai – Phuket corridor, the Future Forward Party could leverage our key innovations designed to drastically reduce costs, increase reliability, and improve operational performance.”
“Thailand is about to enter a pivotal phase of economic and social development, and we are excited about the results of TransPod’s pre-feasibility study,” said Thanathorn Juangroongruangkit, leader, Future Forward Party. “We see a great deal of opportunity for Thailand to embrace TransPod’s innovative technology to strengthen our position as a leader in Southeast Asia and beyond.”
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TransPod’s goal is to disrupt and redefine commercial transportation between major cities in developed and emerging markets. The startup was founded in 2015 to build the world’s leading hyperloop system (the TransPod System) to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod Inc. is headquartered in Toronto, Canada.
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Dianna Lai Read