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Hyperloop Transportation Technologies Prepared to Build The First System in Slovakia

April 6
9:01 AM 2016

The idea of Hyperloop was first announced by Elon Musk in 2009 as the fifth mode of transportation. However, since he has been busy with Tesla and SpaceX, Elon Musk was unable to nurture his idea. Two companies are now ready to conduct test track and launch the system.

Elon Musk admitted the difficulties to concentrate on the Hyperloop, as his SpaceX and Tesla also required his attention. In an interview with Tree Hugger Musk said, "I wish I had not mentioned it, I still have to run SpaceX and Tesla, and it's f*cking hard."

Meanwhile, its competitors have advanced his idea. One of them is HTT which was founded in 2013 to explore Musk's idea on Hyperloop transportation system. HTT has already designed, built and tested every aspect of Hyperloop as the world's next transportation system. In an interview with CNBC, Chief Operating Officer Bibop Gresta said that HTT is the only company that gradually brought the futuristic concept into reality.

"We are the first ones that took the Elon Musk project in 2013 and transformed it into something real," Mr. Gresta said. "We are the only company who are actually building a real full-scale Hyperloop."

In preparing its technology, HTT assembled a team of 520 scientist from 42 countries. The research team conducted a thorough research before building a full-scale Hyperloop system. Now, HTT is preparing its prototype in Quay Valley, California, which resides between L.A. and San Francisco.

HTT has also signed an agreement with Slovakia to build the first Hyperloop transportation system in Europe, connecting Bratislava with Vienna and Budapest.

Another company who also explored the Hyperloop is Hyperloop Technologies (HT). The company, which has almost an identical name with HTT, was co-founded by Shervin Pishevar and former SpaceX engineer Brogan BamBrogan.

Hyperloop Technologies has announced its plan to build a 228 miles (367 km) track connecting Los Angeles and Las Vegas. Earlier this year, HT has procured 50 acres (20 ha) of land to build tube section for its Nevada test track.

Furthermore, as CBS San Fransisco reported, the state of Nevada has granted a $9 million tax-incentive for Hyperloop Technologies to build its transportation system in North Las Vegas. The incentives include reduction of sales tax rate to only 2% for its $120 million investments.

Hyperloop Transportation Technologies (HTT) and Hyperloop Technologies (HT) are competing to finish the test track for Hyperloop transportation system. HTT even has signed an agreement with Slovakia to build the first Hyperloop system in Europe. While HT has received a tax incentive from the state of Nevada to build the system in Las Vegas.

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