Elon Musk’s Tesla is defying expectations by being in the black and now Musk has announced another wondrous idea that may top even that. The entrepreneur, who co-founded PayPal and SpaceX, plans to release designs of his futuristic Hyperloop transportation system on Monday.
Hyperloop would cost about $7 billion to build and could transport passengers from Los Angeles to San Francisco in less than 30 minutes while traveling at speeds greater than 600 mph (966 km/h). It’s still in the concept stage in Musk’s mind and he has stated that he doesn’t plan to build it himself.
Musk first alluded to Hyperloop in July 2012, describing it as a “cross between a Concorde, a railgun and an air hockey table” while providing no other details.
On a conference call with Tesla investors this week, Musk said he hoped engineers and inventors worldwide would show interest and take part in refining the Hyperloop design. Ironically, he didn’t necessarily commit his own time and resources.
“I have to focus on core Tesla business and SpaceX business, and that’s more than enough,” Musk said.
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