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The company has also completed its third phase of testing achieving historic test speeds of approximately 240 miles per hour.
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The moves mark major milestones in the U.S. DOT’s efforts to accelerate environmental reviews and project delivery timelines for new infrastructure projects.
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The project, unveiled Nov. 28 by Chicago Mayor Rahm Emanuel, aims to provide commuters with a 20-minute option to taxi or Uber rides, which cost between $40 and $60.
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The Arrivo system will propel vehicles and cargo through an electro-magnetic superhighway using magnetic levitation and electric power.
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The 10.3-mile tunnel will be the first portion of the underground hyperloop system that the SpaceX founder wants to build between Washington, D.C. and New York City.
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This seminal report, called "Framework for Assessing the ROI for High-Speed and Intercity Rail Projects," goes beyond the confines of the classic "benefit cost analysis" — which focuses on travel time and cost efficiency impacts.
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The chosen corridor includes eight rail stations and is estimated to take 88 minutes of travel time from the first to last station along the corridor.
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Major corridor programs — such as California High-Speed Rail and the Northeast Corridor — are actively advancing visionary futures for public transportation. Yet, future federal funding for HSR remains clouded in the complexities of the federal appropriations process.
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The company will commit meaningful business and engineering resources and work closely with each of the winning teams/routes to determine their commercial viability.
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The new system will be equipped with high-performance, multiple-unit electric trains that operate from overhead catenary.
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