Finance Tesla's Hyperloop pod just set a speed record of 220 mph (TSLA)

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The Hyperloop Pod was built to assist students in SpaceX's Hyperloop competition, but CEO Elon Musk could one day build a commercial Hyperloop.

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(Reuters/Mike Blake)
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SpaceX recently held a Hyperloop competition for students across the globe, but the company has since used the occasion to puts its own system to the test.

A Hyperloop is a nascent transportation system that pushes pods through a vacuum-sealed tube, and the goal is to transport people between cities at speeds of up to 700 mph. SpaceX first challenged students in 2015 to design and build a Hyperloop pod, and we got to see the results of their efforts on Sunday at SpaceX's competition.

SpaceX and Tesla designed a "pusher pod" to help some students get their pods going. A few days ago, SpaceX and Tesla decided to see how their pusher pod performed. It hit a top speed of 220 mph, the fastest recorded time to date.

WARR Hyperloop, the student-run team that won SpaceX's competition, hit 201 mph on the same track. The track is only 1.25 kilometers, so both pods could feasibly reach higher speeds with a longer runway.

Hyperloop One, a startup pursuing the system for commercial use, reached a top speed of 192 mph in August on its 500-meter test track in Nevada.

Musk has said he wants to build a commercial Hyperloop between New York City and Washington, DC, through his newest venture, the Boring Company.