July 16, 2013

Tesla co-founder to unveil 'hyperloop' rapid transit system plans in August

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NEW YORK — Elon Musk, the CEO and co-founder of electric car company, Tesla Motors, will unveil his plans for a "hyperloop" rapid transit system in August.

The billionaire, who also co-founded PayPal, said the system would consist of some sort of tube that would carry people from downtown San Francisco to Los Angeles in 30 minutes, or more than twice as fast as airplane travel, at less than the cost of high-speed rail, Bloomberg News reported. For the full story, click here.

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