New travel method would be 'twice as fast as flying', claims inventor

A supposedly revolutionary new public transport system invented by an internet billionaire is due to be revealed today.

Entrepreneur Elon Musk has promised it will be twice as fast as an aeroplane, cheaper than a bullet train and completely self-powered.

Mr Musk has been dropping hints about his “Hyperloop” system for more than a year during public events, mentioning that it could never crash, would be immune to weather and would move people the 380 miles from Los Angeles to San Francisco in half an hour.

Coming from almost anyone else, the hyperbole would be hard to take seriously. But Mr Musk – who sold his first computer program aged 12 – has earned his reputation as an inventor and entrepreneur, co-founding online payment firm PayPal, electric luxury carmaker Tesla Motors and rocket-building company SpaceX.

Last week he said he would reveal plans for the Hyperloop at 8pm today. But he said he is too focused on other projects to consider actually building it.

“I think I kind of shot myself by ever mentioning the Hyperloop,” he said. “I don’t have any plans to execute, because I must remain focused on SpaceX and Tesla.”

He said he would fulfill his commitment to publishing a design, and he said he invites critical feedback after its release to “see if the people can find ways to improve it.”

It will be an open-source design, meaning anyone can use it and modify it.

He said: “It does involve a tube, but not a vacuum tube”. His hints and promises have prompted a flurry of online speculation.

Canadian John Gardi, a self-described “tinkerer”, posted online and tweeted his conjecture a few weeks ago to Mr Musk.

“I believe that Hyperloop is merely a modern-day version of the pneumatic tubes used in banks, stores, and industry to move money and small items over long distances or to other floors of a building,” he said.

Mr Musk responded, “Your guess is the closest I’ve seen anyone guess so far.”