DENVER (AP) — Colorado transportation officials say Los Angeles-based Arrivo has backed out of plans to build and test a futuristic system that would move passengers and freight at speeds of up to 200 mph (322 kph).
The Colorado Sun reports the company proposed last year constructing a test track and facility near the E-470 Toll Highway east of Denver, saying it would hire up to 200 employees and invest up to $15 million in the project by 2020.
E-470 Public Highway Authority spokeswoman Jessica Carson says Arrivo contacted state officials earlier this year, saying it would not proceed with the test site project.
Arrivo did not respond to the newspaper's requests for comment.
The company's proposed hyperloop system would use magnetic levitation technology to send autonomous pods at high speeds.
Information from: The Colorado Sun, http://coloradosun.com