France’s high-speed rail network could soon have a new name on departure boards, as a homegrown start-up prepares to take on state-owned SNCF.
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Velvet, founded by a former SNCF executive, says it has secured an initial licence to operate high-speed trains on routes linking Paris with cities including Bordeaux, Nantes and Angers, with services planned from 2028.
On its website, the company says it wants to add 10 million seats between Paris and destinations along France’s Atlantic coast, with direct journeys averaging around two hours.
For travellers, that could mean more choice – and potentially more competitive fares – on some of the country’s busiest rail routes.
Although it has successfully obtained a first approval from the French transport ministry, Velvet now needs to secure a safety certification from France’s rail regulator before it can launch.
The French passenger rail market was opened to competition in 2020, as part of EU market liberalisation efforts, but SNCF remains by far the dominant operator.
Velvet is one of several challengers hoping to change that, alongside French start-up Le Train, Spain’s Renfe and Italy’s Trenitalia. The latter also plans to compete with Eurostar on the Paris-to-London service.
Rachel Picard, Velvet’s president and a former SNCF executive, said the new licence was “an important step” towards preparing its trains, staff and operations.
The company has raised €1 billion from a French investment fund, much of which will go towards buying 12 Avelia Horizon trains from Alstom – the same next-generation trains SNCF is also introducing.