Elon Musk, the eccentric innovator and CEO of Tesla Motors, has recently unveiled his plan to construct the fastest transport system known to man. He said it will be ready by 2018. It is a high-speed pod that will use a transportation track that will be built in California.

Musk initially revealed his concept of a high-speed vehicle in 2013. He described his invention as "a cross between a Concord, a rail gun and an air hockey table." The vehicle's design was detailed in a 57-page PDF document which he published at SpaceX and Tesla Motors blogs, both owned by his company. The document is available for download at no charge to encourage those who may want to bring his vision into reality.

Hyperloop Transportation Technologies took his challenge and is now set to use its resources to build Musk's dream. This company said that it has already filed for the required permits so that construction of the 5-mile track needed for the project can start. The track will be located at Quay Valley, California.

"We are announcing the filing of the first building permit to Kings County to the building of the first full-scale hyperloop, not a test track," says Bibop Gresta, Chief Operating Officer, Hyperloop Transportation Technologies

Musk, the man responsible for the success of PayPal and Tesla electric cars is also the owner of SpaceX which aims to offer commercial space flights to those who can afford. His latest invention, if Hyperloop will be successful, will allow commuters to travel around the world faster than an airplane but at a fraction of the cost.

Along with his announcement, the entrepreneur and innovator showed visual renderings of his high-speed transport system. It consists of passenger pods made of aluminum that is contained in an enclosure that is shielded by steel tubes. The whole assembly is mounted on pylons about 50 to 100 yards apart.