Sir Richard Branson’s Virgin Group is reportedly close to finalizing a deal worth more than £500 million to purchase a dozen high-speed trains, aiming to launch a new Channel Tunnel service and break Eurostar’s longstanding monopoly. Project lead Phil Whittingham has indicated that Virgin is in talks with two shortlisted suppliers—drawn from Alstom, Siemens, Hitachi, and Talgo—and expects to place the order during this financial quarter.
Targeting a 2029 Launch
According to Whittingham, the plan is for Virgin to begin operating through the Channel Tunnel by 2029. Getting the venture off the ground will require nearly £1 billion in total funding, with Branson said to be ready to “take as big an equity stake as possible.” It is also anticipated that one or more external partners could provide additional investment to support the project.
Race to Secure Rolling Stock
Virgin’s urgency is partly driven by competition from Evolyn, a Spanish-backed enterprise keen to run its own cross-Channel trains. Evolyn is supported by the Cosmen family, which is the largest investor in Mobico (formerly National Express). It has previously announced plans to purchase 12 high-speed trains from Alstom but has yet to finalize a formal contract. Alstom has also cautioned it cannot guarantee delivery dates without a signed agreement, heightening the race to secure rolling stock.
Capacity Concerns at Temple Mills
Both Virgin and Evolyn’s proposals hinge on gaining access to the Temple Mills depot in East London—where high-speed trains are maintained—and securing platform space at London’s St Pancras International station. However, Eurostar, the incumbent operator and majority-owned by the French state railway SNCF, has objected to the new entrants’ requests to use Temple Mills, arguing the depot is already at capacity with its own fleet.
The Office of Rail and Road (ORR) is currently reviewing the broader question of whether the existing infrastructure can accommodate additional operators. A decision will likely influence which new entrant, if any, can commence services. Whittingham has suggested that the first company to sign a firm train contract could have a better case for receiving maintenance and depot capacity from the regulator.
Competition on the Continent
Eurostar has long maintained a dominant position on the Channel Tunnel route, but both Virgin and Evolyn hope to offer alternative services for passengers traveling between London and continental Europe. Whittingham, however, has raised doubts about whether the market can realistically support three different operators, citing both economic and logistical constraints.
Next Steps
While Virgin has not released detailed plans on its ticket pricing or proposed route schedules, the company’s willingness to invest upwards of £500 million in new rolling stock signals a strong commitment to entering the high-speed cross-Channel market. Industry observers will watch closely as the ORR rules on depot capacity, a decision that could reshape competition—and potentially passenger choice—on one of Europe’s most heavily traveled international rail corridors.
