Velvet presents first high-speed trainset ahead of 2028 launch
FRANCE: France’s first independent high-speed challenger has presented its inaugural Avelia Horizon trainset at Alstom’s La Rochelle test facility, marking a concrete step toward open-access competition on the Paris Atlantic corridor from mid-2028.
The nine-coach trainset — dressed in dark bottle green with a lilac stripe — rolled out on 22 April after nine months of production across Alstom sites in Aytré and Belfort, with over 1,000 workers involved. Static testing runs through end-2026, dynamic trials follow in 2027, and type approval is required before commercial launch.
Velvet has applied to SNCF Réseau for paths on all three target routes, but slots are not yet confirmed.
Path allocation still open as regulatory contest sharpens
France opened its high-speed rail market to competition in 2020. Velvet is the first domestic challenger to emerge — founded by Rachel Picard, former director of SNCF Voyageurs, and Timothy Jackson, former head of RATP’s UK operations. The company has secured EUR 1bn in funding from Antin Infrastructure Partners, with EUR 850m allocated to 12 Avelia Horizon trainsets plus 15 years of maintenance.
Unresolved competitive conditions frame the launch. SNCF chief executive Jean Castex demanded in late February that the same rules apply to all operators — a position directed at Velvet, which argues it already contributes sufficiently through track access charges, projected at EUR 200m per year. The government has commissioned a report from former minister Dominique Bussereau to arbitrate the dispute. No findings have been published.
Regulatory framework still being written
Path applications were submitted to SNCF Réseau in 2025 for all three planned routes. Picard confirmed on 22 April that discussions are ongoing but slots have not yet been granted.
The commercial logic rests on a documented capacity gap. Velvet says 15% of would-be passengers on Atlantic corridor routes currently cannot find a seat, a figure the company projects will reach 25% by 2030 without additional capacity. The French transport regulator has documented that Trenitalia’s entry on Paris–Lyon produced an average fare reduction of around 10% — a precedent Velvet’s investors are watching closely.
If launched, a structural first for French rail
If Velvet reaches commercial service, it will be the first independently operated domestic high-speed service in France. The Paris–Bordeaux route is planned to launch mid-2028 with four trainsets, followed by services to Nantes and Rennes at intervals of three to four months. The full fleet of 12 sets is expected to deliver 10 million seats per year across the Atlantic corridor.
Velvet currently employs 40 staff and is targeting around 300 for operational launch. A maintenance depot is under construction at Marcheprime near Bordeaux in partnership with Lisea. Picard has said profitability is not expected before four to five years after launch.
The Avelia Horizon platform is technically identical to the TGV M ordered by SNCF Voyageurs — a deliberate choice, Velvet says, to accelerate type approval and reduce certification risk.