SYDNEY, Feb. 8 (Xinhua) -- Billionaire tech giant Elon Musk's Hyperloop, a method of high speed travel currently in the development phase, was suggested by a parliamentary committee on Wednesday to be a viable alternative to high-speed rail in Australia.
The Committee on Infrastructure, Transport and Cities' report said Hyperloop would enable passengers to travel between the Australian cities of Sydney and Melbourne in just one hour, a trip that currently takes 12 hours by train, or 9 hours and thirty minutes by car.
High-speed rail travel has always been on the agenda for Australia, ever since the early 1990s, but has yet to become a reality, but Hyperloop suggest they could deliver the project to Australia as 20 percent lower cost than a high-speed rail line, similar to those found elsewhere around the world.
Alan James from Hyperloop said the pods are able to travel on relatively low capacity and still be financially viable, whereas a similarly low capacity would "bankrupt a high-speed rail system."
The extended hope is that the high-speed travel will allow Australians to commute to major city centres in under 30 minutes, part of Prime Minister Malcolm Turnbull's plans to combat rising house prices.
"Linking regional towns to their nearest major city via high speed rail will fast track the supply of affordable housing stock for generations to come," John Alexander, parliamentary committee chairman said.