SpaceX Announces Design Competition for Hyperloop

Musk’s rocket-building company, SpaceX, announced Monday that it plans to build a 1-mile test track next to its headquarters in the Los Angeles suburb of Hawthorne

SpaceX CEO Elon Musk unveils the company's new manned spacecraft, The Dragon V2, designed to carry astronauts into space during a news conference on May 29, 2014, in Hawthorne, California. Kevork Djansezian/Getty Images

LOS ANGELES—Billionaire Elon Musk wants to jump-start his Hyperloop high-speed transit system.

Musk’s rocket-building company, SpaceX, announced Monday that it plans to build a 1-mile test track next to its headquarters in the Los Angeles suburb of Hawthorne and will hold a competition there next year to test designs for passenger-carrying Hyperloop pods.

It’s the first time Musk’s company has been directly involved in the Hyperloop project, although several private firms are pursuing research.

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