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The futuristic transportation method dreamed up by SpaceX and Tesla CEO Elon Musk is being explored by a company in downtown L.A.Hyperloop Technologies is leasing a 6,500-square-foot space in downtown Los Angeles' Arts District to work on the Hyperloop, the L.A. Times reports. The idea behind the Hyperloop is that people and objects would enter a capsule in a vacuum tube, then the capsule would race along at 750 mph on a cushion of air. The Hyperloop would connect San Francisco and Los Angeles.
According to the owner of the Arts District Property, Hyperloop Technologies will lease an additional 38,000 square feet in their current building as well as in a nearby building in the next year. They're also hiring, with an open 29 positions listed on their website in addition to the 20 people who already work there full-time.
While Musk is not affiliated with the company, Uber underwriter Shervin Pishevar and former PayPal COO David O. Sacks are both co-chairs. So far, the company has raised $20 million out of the $80 million they're looking for to build a five-mile track on which to test the Hyperloop. Musk has stated that this track may be built in Texas.
Musk, who has historically been highly critical of California's plans for high-speed rail between Los Angeles and San Francisco, put his plans for the Hyperloop online here. You can also see the Hyperloop explained in the video below.
Editor's Note: A previous version of this article incorrectly indicated that Elon Musk was involved with Hyperloop Technologies. We regret the error.
