TORONTO – Billionaire entrepreneur Elon Musk is supposedly working on building a test track for his futuristic high-speed transportation system, Hyperloop.
On Thursday Musk tweeted, “Will be building a Hyperloop test track for companies and student teams to test out their pods. Most likely in Texas.”
The cryptic tweet is the first major development in Musk’s plan for Hyperloop, which would shoot capsules full of people through a tube at approximately 800 miles per hour.
READ MORE: Inventor shares plans for super high-speed travel
The concept pulls together several proven technologies: Capsules would float on a thin cushion of air and draw on magnetic attraction and solar power to zoom through a nearly air-free tube. Because there would be so little wind resistance, they could top 700 mph and make the nearly 400-mile trip in about half an hour.
In late December, Hyperloop developers estimated that the transportation system could be ready for passengers in as few as ten years.
Musk originally estimated US$6 billion for the project. However, in a report released in December, developers estimated the project could range anywhere from US$7 billion to $19 billion.
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