Elon Musk gave the idea of Hyperloop a few years ago, but chose, for some reason, decided not to get involved in the direct development of transportation – instead, two startups stood out: Hyperloop One and Hyperloop Transportation Technologies (HTT). Now, the CEO of Tesla and SpaceX decided to play the game.
According to Bloomberg, a statement issued by the Boring Company of Musk stated that the intention is “to accelerate the development of this technology as soon as possible”. The document also says that Elon will continue to support those who want to develop a Hyperloop, but that these companies need to be “reliable” or lose the license to use the name – which is currently owned by SpaceX.
The announcement was made after the executive announced that he had tacitly negotiated with the US government on the construction of a stretch for Hyperloop between New York and Washington to be made by the Boring Company, but nothing more concrete was disclosed.
The motivation for changing the idea is also striking: it is well known that Musk is extremely focused on execution and perhaps the pace of development of current startups is not in line with his expectations.