Elon Musk Now Plans to Compete Against Other Hyperloop Companies

Hyperloop One is hoping to be building freight lines starting in 2018 and begin moving freight by 2020, maybe 2019, with the first passenger trips starting in 2021.

But it looks like Hyperloop One is soon going to have competition from Musk himself.

Elon Musk introduced the idea for the hyperloop in 2013 in a white paper, authored by Musk and his team at SpaceX .“I don’t have any plan to execute because I must remain focused on SpaceX and Tesla,” Musk Said at the time.

Well now it looks like it’s time to execute. Musk said in July that he had received “verbal government approval” to construct an underground passenger hyperloop between New York and Washington, D.C. using his Boring Co., that would cover the trip in just in 29 minutes.

Musk has repeatedly denied wanting to construct his own hyperloop company, but Bloomberg reports that a source close to Musk says that his plan is to build the entire New York to Washington, D.C. system, including the hyperloop and not partner with existing companies such as Hyperloop One.

The news that Musk has changed his mind and is now building a hyperloop himself has left executives at the three main hyperloop startups in shock.

The Boring Company, founded by Musk last year, claims it will be able to vastly increase increasing tunneling speeds and drop costs by a factor of 10 or more.

The Boring Machine, Credit: The Boring Company
The Boring Machine, Credit: The Boring Company

SpaceX owns the trademark for “Hyperloop” but says that “We encourage and support all companies that wish to build Hyperloops and we don’t intend to stop them from using the Hyperloop name as long as they are truthful.’’

The Boring Tunnel, Credit: The Boring Company
The Boring Tunnel, Credit: The Boring Company

Musk plans to hold another hyperloop competition at SpaceX later this month. “We are interested in helping to accelerate development of a functional Hyperloop prototype,” a statement read.

The statement also read “We are not developing a commercial Hyperloop ourselves.” , this sentence has since been removed form the website.

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