LAS VEGAS (CBS/AP) -- Billionaire Elon Musk's futuristic, super high-speed transportation dream is a step closer to reality. Early-phase tests on the system are on track to begin in Las Vegas.
Hyperloop Technologies announced Tuesday that it will conduct its Propulsion Open Air Test at Apex Industrial Park. The park is also considered a candidate for electric car company Faraday Future's manufacturing plant.
The idea behind the hyperloop technology is to use vacuum tubes to transport freight and passengers in pods at speeds up to 750 mph. That would take travelers from LA to San Francisco in a half-hour.
The Nevada phase involves sending an electrical motor at more than 300 mph on a half-mile track. Testing is expected to begin early next year.
The company says it's still looking for a site to build a 2-mile test track.
Musk is the CEO of Tesla and SpaceX. His Hyperloop Technologies is co-chaired by venture capitalist and Uber underwriter Shervin Pishevar and former PayPal COO David O. Sacks.
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