Elon Musk's Hyperloop Is One Step Closer to Reality as Deal is Struck With Californian Landowners

Earlier this year, it was decided that another company will build Elon Musk's Hyperloop. We guess he was too busy handling Tesla Motors and the Space X project, but we're sure he kept a close eye on the Hyperloop initiative as well.
Hyperloop 1 photo
Photo: Hyperloop Technologies
Hyperloop Technologies accepted the challenge of building the future of transportation based on Elon Musk's vision, and there's nothing comfortable about that, rest assured.

However, the organization managed to raise around $8.5 million (€7.4 million) until February this year, which was not looking too good since the forecast said they needed way more to start building a small test track.

The testing grounds were supposed to be positioned somewhere between Las Vegas and Los Angeles, but hear this out: according to Navigant Research, Hyperloop Transportation Technologies Inc. reached an agreement with landowners in central California.

The source goes on by saying that the track will occupy a 5-mile patch of land near the Interstate 5 highway connecting San Francisco and Los Angeles.

What about building costs?

The Hyperloop test track is expected to cost around $100 million, but the majority of the cash is supposed to come from an initial public offering (IPO) by Hyperloop Transportation Technologies later this year.

Nonetheless, the Hyperloop has been recommended as a cheaper alternative to what California's high-speed rail has to offer for covering the 400 miles between San Francisco and Los Angeles.

As with every project of such size, there are also technical-related issues still unclarified. For example, Elon Musk said a capsule was capable of reaching over 700 mph (1,126km/h), but a 5-mile track will limit that top speed to just 200 mph (321 km/h). For now, the best thing to do is to sit back and watch the developments unfold.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories