Tesla Founder Plans For Several Billion Dollar Hyperloop Mass Transportation System

Hyperloop Mass Transit SystemEarlier this year we detailed the lack of investment into a high speed rail system by the U.S. (compared to other nations), but Tesla Motors CEO Elon Musk just might have unveiled an alternative with his superfast transportation system, Hyperloop.

Musk has proposed a system of tubes built either above or below ground that will move people between cities that are less than 900 miles apart.

Musk said that the main cost of building such a system would be the tubes, which would cost "several billion dollars." But Musk said, "Even several billion is a low number when compared with several tens of billion proposed for the track of the California rail project."

The system could also be self-powering. Musk said by placing solar panels on top of the tube, the Hyperloop can generate far in excess of the energy needed to operate.

Musk's full press release on Hyperloop can be found here.