Hyperloop Transportation Technologies to build test track in 2016

February 26, 2015 4:52 PM

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The company expects to raise the $100 million it needs to construct the test track when it holds its initial public offering in the third quarter of 2015. HTT plans to break ground in 2016 and deliver the goods by 2018. It's a rather ambitious timeline to match already audacious (outlandish, even) concept.

Made famous by a white paper published by Elon Musk in 2013, the Hyperloop calls for a long-distance transportation system featuring vehicles traveling at high speeds through depressurized tubes. Musk's initial concept called for max speeds nearing 800 mph, but HTT's model will top out at 200 mph.

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