Billionaire space baron Elon Musk has inked a deal with land developers in California to allow his company to begin installing an over-hyped, loopy new transport system appropriately dubbed Hyperloop.
Previous mutterings from Musk had suggested that the first railgun-like tube-way would be constructed by Hyperloop Transportation Technologies Inc (HTT) in Texas as a trial track.
On Thursday, his outfit struck an agreement with developers of Quay Valley, California.
HTT said in a statement that it planned to build a Hyperloop "along a five-mile stretch of the town running alongside the Interstate 5 freeway."
Construction will kick off next year, apparently.
HTT, which said it was mulling a public offering near the end of this year, promised it would be "the first working passenger-ready Hyperloop in an urban area."
Musk's company added:
The Quay Valley Hyperloop track will be built using HTT’s tube, capsule, and station models. It will be instrumental in optimising passenger system needs – such as loading, departure and safety considerations – to ensure Hyperloop is ready for larger-scale operation. Running speed will be reduced on the shortened track from Hyperloop’s full potential.
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