An $18 billion undertaking
That's the good news. The bad news is that even optimistically, this transit system is many years and billions of dollars away.in funding from British investors Broughton Capital Group and the Chinese state-owned China-East Resources Import & Export Co. That money is financing ongoing research and development, plus plans to build a test track and conduct high-speed tests between 2023 and 2027.
The company says it wants to begin construction on its inter-city FluxJet line by 2027. TransPod also says the project will ultimately cost $18 billion, which means it'll need to raise a lot more money between now and then — whether from private investors, government funding or both.TransPod's FluxJet would be able to carry up to 54 passengers at speeds of more than 620 miles per hour.
TransPod claims the expenditure will be well worth it, projecting that the FluxJet system's construction will create"up to 140,000 jobs" and add $19.2 billion to the area's gross domestic product . The system would reduce carbon dioxide emissions by 636,000 tons per year once constructed, TransPod says.
Oil companies will shut this down