The fight for better high-speed train travel is being joined by a Canadian company.

Plans for a hybrid between an aircraft and a train have been unveiled by Trans Pod. The project would involve a series of magnetically levitated trains that would carry passengers at an average speed of over 600 miles per hour.

It is three times the speed of most high-speed trains and three times the speed of a commercial jet. The company says that the train would pull power from the electric grid through a magnetic field.

The aerodynamic design of the levitating train is intended to reduce the amount of movement. Theoretic ability to beat jets and high-speed trains rests on technology influenced by a new field of physics. In July, the company released a video showing off the design process, as well as quick looks at how the technology works and concept animations showing what the final version could look like.

The cost for passengers to travel on the FluxJet will be less than the cost of a plane ticket, according to Trans Pod. The company plans to build a network of vacuum tubes between the Canadian cities of the same name.

Up to 54 passengers and 10 tons of cargo would be carried on each trip under this plan. It would take 45 minutes to travel between the two cities.

The bad news is that. The good news is that the transit system is a long way from being built.

British investors and the Chinese state-owned China-East Resources Import & Export Co. gave $550 million in funding to Trans Pod.

The company says it will need to raise a lot more money between now and then to complete the project.

It would be possible to carry up to 54 passengers at a speed of more than 600 miles per hour.

The source is Trans Pod.

The project will create up to 140,000 jobs and add $19.2 billion to the area's GDP according to Trans Pod. Carbon dioxide emissions would be reduced by 636,000 tons a year once the system is built.

Plans for a similar ultra-high-speed train system, intended to ferry human passengers at speeds up to 760 miles per hour, were previously announced. The company recently laid off more than 100 employees as they focused on transporting freight rather than people.

The Boring Company has been digging underground tunnels in Los Angeles and Las Vegas for years, hoping to eventually fill them with high-speed "hyperloop" transportation systems.

At speeds topping out at around 50 miles per hour, the tunnels have only been used to transport cars from one location to another. In April, Musk said he wanted to start full-scale testing of a hyperloop later this year.

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