Sir Richard Branson’s Virgin Group plans to launch £1 billion high-speed trains through the Channel Tunnel by 2029, challenging Eurostar and lowering fares.

Billionaire Sir Richard Branson is reportedly gearing up to challenge Eurostar’s dominance of the Channel Tunnel, which serves as a vital link between northern France and England. Sources suggest that Branson’s Virgin Group is preparing to place an order for a fleet of high-speed trains, a move estimated to involve an investment exceeding £500 million.

The pursuit of this venture pits Virgin against Evolyn, a budding competitor aiming to revolutionize international train travel with its innovative high-speed services. Phil Whittingham, who is spearheading the project, has stated that Virgin aims to launch train operations through the Channel Tunnel by 2029. To this end, the company has already narrowed down potential suppliers for the ambitious undertaking.

Reports indicate Branson is keen to secure a substantial equity stake in the venture, which may demand a staggering £1 billion in overall funding. Should Virgin succeed, increased competition could lead to more affordable travel for passengers using the Channel Tunnel.

While the prospect of breaking Eurostar’s monopoly raises expectations, Virgin has yet to formally commit to the launch of this high-speed train service, leaving travelers eager to see if Branson’s plans will materialize.

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