Elon Musk’s tunnel-drilling company Boring Company will build its own hyperloop system. That should happen sometime in the coming years, Musk reports on Twitter.
The world’s richest man announced days after Boring Company raised $675 million from investors. The company was valued at $5.7 billion.
Musk himself is the inventor of the hyperloop, a kind of magnetic levitation train that travels through a vacuum tube and can thus reach very high speeds. He then decided to release his idea and hold competitions for its further development. Several organizations have done this, including the Dutch company Hardt Hyperloop.
According to Musk, due to the laws of physics, the hyperloop is “the fastest way to get from one city centre to another at distances of less than approximately 2,200 miles.”
In addition, underground tunnels are “immune to the weather on the surface”, according to the CEO of Tesla, SpaceX and Boring Company, which means that a hyperloop can continue to run during a hurricane.