Elon Musk's Hyperloop project is slowly becoming a reality after its Hyperloop Transportation Technologies announces that it is set to build a test track in the coming week.

Hyperloop Transportation Technologies will build a 5-mile test track and it is expected to cost around $150 million.

Musk, who is also the owner and founder of Tesla Motors and SpaceX first proposed the idea of the transportation system in 2013.

According to his vision, the Hyperloop pod that is used to transport people on the track could go as fast as 760 mph which is close to the speed of sound as reported by Mashable.

However, the speed of the pod will be reduced for the test track as the company is looking to have a better control over it if something went wrong with the pod.

The pod which will be built in Quay Valley will only run at 160 mph and the company is expecting more than 10 million people will be using the Hyperloop transportation system.

Hyperloop pod will also be very environment-friendly as the pod runs on solar power.

According to Tech Times, the pod will also be self-sufficient as there will even be a surplus of solar, wind and kinetic energy every time the pod moves.

The company is suggesting that the surplus can be sold back to the grid and potentially eliminating passengers' need to pay the fare.

Besides that, Hyperloop Transportation is also planning to gain more revenue by letting advertisers display their products alongside the track and creating the world's longest billboard.

The company has been doing lots of research regarding the transportation. The development process accelerated when Musk open-sourced the project enabling more people to contribute.

The COO of Hyperloop Transportation Technologies, Bibop Gabriele Gresta is optimistic about the test track as it will determine whether the transportation system will be able to replace the current system.

He told Fortune that "you can substitute the entire flight industry from Los Angeles to San Francisco with one tube, four times. Now if this will not disrupt the air industry I don't know what will."  

Results for the test track will still be unknown until the Hyperloop transportation technologies has been running at its maximum capacity.

The company said that the construction will be completed in just 32 months and it will start to accept passenger for a test ride soon after the completion.