The Future of Urban Transportation
Plans Becoming Reality
In January Musk revealed that he was planning to build a privately funded 5-mile test track in Texas. All along Musk has declared that the design is an open source – meaning he is open to feedback on design improvements from anyone. In line with this, Musk will invite companies and students to test their prototypes on the Texas track to refine and improve on the performance of the pods.DESKTOP
What Will it Cost to Build?
There are, and were, a large number of critics that doubted Musk’s original estimate that 380 miles of track could be built for $6 billion. Some doubters predicted that it could end up costing as much as $100 billion. It looks as though one company agrees with Musk, Hyperloop Transportation Technologies announced a construction deal to build the five-mile prototype Hyperloop in 2016. They are also predicting the costs to be $100 million, $20 million per mile – that’s actually close to Musk’s original estimate. The company plans to raise the capital required for the project through an IPO. If the interest is anything like the Teslar Motors IPO then it could prove a very successful venture.