Elon Musk had a vision, an idea, of a Hyperloop two years ago which is now moving closer to reality as the Hyperloop Transportation Technologies has signed an agreement to build it. Musk's idea two years ago is starting to become a reality today. Feasibility studies for the Hyperloop are already finished and Dirk Ahlborn, CEO of the JumpStartFund, is ready to put it to the test.
"This is a phased process. We've done feasibility studies and now we will be able test all aspects of the Hyperloop," said Ahlborn.
The Hyperloop is an idea visioned by Tesla Motor's CEO and Space Exploration Technologies founder Musk. He envisioned transporting people for over thousands of miles on high speed inside a capsule that will be going through series of tubes, NBC reported.
Ahlborn, explained that this is a huge step and that it is already time to put the Hyperloop from a design and concept into building a real one.
"This is big step, it's time to take the Hyperloop from concept and design and build the first one," Ahlborn explained.
The contract which was agreed and signed with the developers of Quay Valley in central California stated that the construction will begin next year and will be finished by 2019. The estimated cost of the Hyperloop will be around $100 million to construct according to CNBC.
Musk announced the Hyperloop idea together with a statement that he will not be involved in other projects funding or working so to construct the Hyperloop. He has disclosed the Hyperloop test tracks to be built in Texas.