Its publicly stated goal is to launch commercial operations by 2030.
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According to the study, the Great Lakes hyperloop will cost between $25 billion and $30 billion, or $60 million per mile, and six years to construct. Once in operation, passengers can expect to pay about two thirds the price of a comparable air ticket.
Hyperloop One estimated that for a loop around the Bay Area the costs were in a range on $9 billion to $13 billion in total, or from $84 million to $121 million per mile.
Now, Musk estimates that such a Hyperloop would only cost $6 billion to construct, which may sound like a lot, but high-speed rail between these two cities is estimated to cost $68 billion!
Hyperloop developers have also suggested the system could serve as a competitive alternative to traditional freight transportation modes of air, truck, or rail.
Some argued the system would be pricier and require more energy than Musk had calculated, making the Hyperloop impractically expensive. Plus, California has already invested years and millions of dollars in a stalled attempt to build a normal high-speed train line for the same journey.
Some argued the system would be pricier and require more energy than Musk had calculated, making the Hyperloop impractically expensive. Plus, California has already invested years and millions of dollars in a stalled attempt to build a normal high-speed train line for the same journey.