Turkey-based Erciyas Çelik Boru Sanayi A.Ş. and its group company RC Endüstri Ulaşım Araçları A.Ş., which has vast knowledge and experience in the railcar business, have decided to establish Erciyas Hyperloop Teknoloji Sanayi A.Ş., a joint venture for Hyperloop technology, with a capital of TRY 250,000.
According to the statement, the main focus of the JV is to continue railcar and pipe investments and to produce capsule railcars and tubes that will be utilized in Hyperloop technology. Erciyas Çelik Boru will hold a 55 percent interest in the company, while RC Endüstri will have a 45 percent share.