Hyperloop Technologies recently announced a new hyperloop testing track to be built in the Mountain View Industrial Park in north Las Vegas. Tesla is also building its Gigafactory in the desert north of Reno and Farady Future just announced a $1 billion investment in a manufacturing facility also in north Las Vegas. Could the desert of Nevada become the new Silicon Valley?
Hyperloop Technologies is just one of the two firms competing to find the most commercially viable application of Elon Musk's hyperloop idea. Hyperloop Technologies has so far raised $37 million in investor funding and is expecting to obtain another $80 million by selling bonds.
Steve Hanley, a writer for CleanTechnica describes the hyperloop idea:
Hyperloop vehicles would travel in a partial vacuum inside a tube. Less air means less aerodynamic drag. Now add in magnetic levitation and linear electric motors and you have a system that could transport people and cargo over long distances at speeds just slightly less than the speed of sound. LA to San Francisco would take under an hour. LA to NYC would happen in under 6 hours.