Hyperloop One plans to raise $160 Million for Aggressive Expansion Plans

Hyperloop One has received $50 million in investments and plans to raise $160 million for aggressive expansion plans.

The company will need that money because the cost of the super-fast transport system may greatly exceed initial estimates, Forbes revealed. Back in 2013, Elon Musk optimistically estimated that Hyperloop would cost around $11.5 million a mile to build, but Hyperloop One documents obtained by Forbes mention a cost of $121 million a mile; or over 10 times Musk’s estimate.

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