One of the major players trying to build the first hyperloop says it could be done today.
So, what's the holdup? The insanely-high amount of money it would cost ... as in millions per mile.
And that's not the only issue facing Hyperloop Technologies and Hyperloop Transportation Technologies Inc., as the rival companies vie to build the futuristic mode of transportation.
Other pressing concerns include pinpointing the exact technology that will be used to levitate hundreds of passengers, traveling at blazing-fast speeds in miles-long tubes, and getting hosting countries to regulate the system.
But more than anything, it's the cost.
"We can build the hyperloop today," Brogan BamBrogan, co-founder and chief technology officer of Hyperloop Technologies, told the Wall Street Journal. "It would just be extremely expensive."
How expensive?
Well, Elon Musk, who introduced the idea in 2013, estimated the cost for a San Francisco-to-Los Angeles hyperloop — reaching speeds of 760 miles per hour and taking 35 minutes for the near-400-mile trip — to be $6 billion, or $11.5 million a mile, as reported by the Journal.
And get this ... Hyperloop Technologies told the same newspaper that Musk's estimate is low and that a hyperloop track could run up to a staggering $20 million a mile.
While each technology firm knows the cost is going to be high, each company also understands that the estimate is contingent on the technology used to make the hyperloop.
While Musk initially envisioned the hyperloop as a capsule, levitating on pressurized air, both Hyperloop Technologies and Hyperloop Transportation Technologies Inc. are reportedly leaning toward magnetic levitation, or maglev as it's referred to, according to the Journal. That technology is already used to lift train cars, but it, too, relies on expensive cooling systems.
If those weren't enough obstacles to overcome by themselves, each company must also work with countries to gauge interest and discuss possible regulations.
The Journal reports that both Hyperloop Technologies and Hyperloop Transportation Technologies Inc. have had early talks with governments in upwards of 10 countries — the largest ones being China, India and the United Kingdom — about building a hyperloop by 2020.
It's likely that either company will build the first fully-functioning hyperloop outside of the United States, though, as some of the aforementioned countries might hit them with less regulatory red tape, making the project just a bit easier.
That being said, though, Hyperloop Technologies is scheduled to complete its half-mile long test track in Las Vegas within this first quarter.
