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(Pocket-lint) - Elon Musk, of Tesla and SpaceX fame, has decided to build his Hyperloop concept.

The Hyperloop is like a futuristic train that Musk calls "a cross between a Concorde, a railgun and an air hockey table". Essentially it's the Very High Speed Transit System proposed in 1972 which combines a magnetic levitation train and a vacuum.

Now Musk is actually going to build a test track for this futuristic form of transport that could revolutionise high-speed transit. Imagine getting a train from London to New York faster than a plane can get there. As musk points out unlike a plane this "does not have to squander unrecoverable energy climbing to high altitudes."

The Hyperloop should be built in Texas, according to a tweet by Musk. There are also plans to use it to offer annual student pod racing competitions. Yes it does sounds like something from Star Wars: Episode I and should offer similar speeds of around 800mph. Although with it all underground and on set routes it won't be quite so exciting.

Apparently the major part of the work involved in creating such a transportation system is largely in tunneling, which is expensive. Musk was thought to be leaving this to someone else but now appears to be taking on the task of creating the Hyperloop system himself. When this will appear isn’t clear.

READ: See Japan’s new 500km/h maglev train at full speed

Writing by Luke Edwards.