Hyperloop Transportation Technologies and Slovakia signed a deal to construct the first working hyperloop system in the world. Looks like the US is a bit behind the game.

Hyperloops, which became not only talk of the town, but of the entire tech-savvy world after the initial concept was introduced by Elon Musk, make superfast travel possible by employing magnetic levitation to move passenger pods without ever touching the ground. The-tube like form of transport would be able to take you from A to B at a speed of 760 mph (1,223 kph) and that's way faster than your usual passenger plane!

While the world expects the first ever hyperloop system will be built in California, Hyperloop Transportation Technologies CEO Dirk Ahlborn announced that HTT just made an agreement with the Slovakian government (as confirmed in Slovakian newspaper Pravda) to create a low-cost alternative Hyperloop transportation route from Vienna, Austria to Bratislava, Slovakia, as well as from Bratislava to Budapest, Hungary.

Vazil Hudak, Slovakia's economic minister, explained in his statement: "Hyperloop in Europe would cut distances substantially and network cities in unprecedented ways. A transportation system of this kind would redefine the concept of commuting and boost cross-border cooperation in Europe. The expansion of Hyperloop will lead to an increased demand for the creation of new innovation hubs, in Slovakia and all over Europe." It is reportedly estimated that the European Hyperloop is to cost between $200m to $300m with all the works and infrastructure to be completed by 2020.

At the same time, HTT's rival Hyperloop Technologies is reportedly building a three-mile test track in California. The company hopes to complete it by the end of the year, expecting first commercial ride to take place in "2021 or even 2020".

To see an introduction to the world of Hyperloop transportation system, check out Hyperloop Technologies, Inc. video below.

April 15, 2016 Driving photo: Hyperloop Transportation Technologies

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