Elon Musk Announces Building Hyperloop Test Track - GraniteShares 1.25x Long TSLA Daily ETF (NASDAQ:TSL)

By now everyone on the Street knows that when Elon Musk talks about a new technological innovation, regardless of how unfeasible it looks to an average person, he will very well go and make it a reality. Tesla Motors Inc TSLA, SolarCity Corp SCTY and SpaceX are all examples of Musk’s vision.

So, it comes as no surprise that Musk is taking forward the

Hyperloop transportation system

idea that he talked about over the last two years by building a test track for it.

CNBC

's Phil LeBeau reported on this recently.

Inception And Reception

“Remember that last year he came up with this idea of series of tubes that would transport people in pods at ultra high-speeds over long distances,” LeBeau said.

“Well then he said, look, I am not going to oversee this, I am not going to be involved with it, but it’s great if other people get involved and other people have been involved.”

Lone Star State To Become Lone Hyperloop State?

He continued, “Well, speaking today in Austin, Texas at a transportation summit, Elon Musk said they will be building, he will be building, somebody will be building a Hyperloop test track for companies and student teams to test down their pods most likely in Texas, also thinking of having an annual student Hyperloop pod racer competition, sort of like a formula SAE.”

Costs

LeBeau wondered who will be funding this track, saying, “We don’t know who is going to build this. Is Elon Musk funding this, is it Tesla? Is it SpaceX? Who is funding the building of this facility? But he says [sic.] that it will be built and possibly in Texas.”

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