Hyperloop Technologies continues to make strides toward bringing the Hyperloop transportation theory to life and it just announced a new testing facility that will test the might of a new high-tech electric engine, according to the Salt Lake Tribune.
The Hyperloop is a tubular system that would theoretically be able to shuttle people and goods at supersonic speeds, according to a previous report by HNGN, The company heading the envisioned transport system will soon be building a 50-acre test facility in Las Vegas, Nev.
An upcoming trial in 2016 will include testing a custom built electric motor at speeds of up to 336 mph on 0.6 miles of track, according to the Los Angeles Times, although the intended final product will be able to achieve about two times that in terms of speed.
"This decision represents another major milestone in our journey to bring Hyperloop to commercial reality," said Hyperloop Technologies' CEO Rob Lloyd.
Though the idea seems sound, many are wondering if the project can ever be cost effective. "The physics of it works. The real question is, can you get it to a point where it will be cost-competitive with other means of transportation?" said R. John Hansman Jr., professor at the Massachusetts Institute of Technology.
The company has raised $37 million from investors and expects to receive $80 million in bond financing, according to the Canadian Broadcasting Company.
