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The company plans to test its custom designed electric motor to speeds of up to 540 km/hour (about 335 mph) on a 1 km (about 0.62 miles) long track.
Hyperloop Technologies is currently still selecting a location for a Safety, Development, and Test site. Once it's up and running (in "late 2016/early 2017"), the team will put a full speed, full-scale prototype to the test. The plan is to have a working Hyperloop system ready by 2020.
Elon Musk released his plans for the Hyperloop concept in 2013. Since then, companies have been racing to make the 540 km/hour mass transportation system a reality. For the July 2015 issue of Popular Science, writer James Vlahos detailed how Hyperloop Technologies and rival company Hyperloop Transportation Technologies plan to bring the dream to fruition.
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