BOSTON — Teams competing in Elon Musk's Hyperloop pod contest are beginning to reveal what their completed pods look like. On Friday, MIT posted images of its human-size Hyperloop pod (pictured) on Facebook,Tech Insider reported.

The Hyperloop concept is a futuristic transport system that carries passengers in capsules at speeds reaching more than 500 miles per hour. Tesla and SpaceX CEO Elon Musk, who is sponsoring a contest to find the perfect Hyperloop pod design, first proposed the idea back in 2013 and made his research public so others could pursue developing the concept, according to the report.

The pod utilizes a passive magnetic levitation system that incorporates two arrays of 20 neodymium magnets, according to MIT Hyperloop's website.

At the end of the summer, selected teams will compete in the final round of the competition where they will have the opportunity to shoot their life-size pod down a one-mile Hyperloop test track, Tech Insider reported.

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