Elon Musk Says He Will Build A Five-Mile Hyperloop Test Track, Probably In Texas

Elon Musk announced a new step for his Hyperloop concept, the ultra high-speed shuttle system that could theoretically transport people from New York to Los Angeles in under two hours.

Musk on Thursday says he plans on building a five-mile Hyperloop test track so companies and student teams can "test out their pods." He says this test track will likely be built in Texas.

Though Musk introduced the Hyperloop idea, he handed it off to a crowdfunded team of about 100 engineers from JumpStartFund, who have all been testing the technical feasibility of the project. Cost analyses from JumpStartFund and Musk say $6-10 billion would be needed to produce a 400-mile Hyperloop.

If you're wondering why Musk is considering Texas for the Hyperloop test track, Musk said earlier this week that he is doing a lot of work in the state to get his electric car company, Tesla Motors, to sell its cars directly to consumers. "Texas is a very important market for us," Musk said.