Hyperloop UPV
The Hyperloop UPV concept is a levitating rail-free pod design. Using magnetic repulsion and air cushioning for levitation is expensive and can produce unpredictable forces. The pod is equipped with a hybrid system of permanent magnets and electromagnet units, being able to control lift, so it can hover from the top of the tube. That way, the pod doesn't need so much electricity to be lifted by itself. Propulsion is obtained through expansion of the air with a nozzle, located at the rear of the pod, achieving speeds of up to 1000 km/h. The turbine recovers energy from the flow allowing a more efficient journey. This clean tube layout is said to cut costs in up to 30% of the whole Hyperloop project (about 180m USD) and the possibility to comfortably fit more passengers.
Hyperloop pod competition
On 15 June 2015, SpaceX announced that they would sponsor a Hyperloop pod design competition, and would build a subscale test track near SpaceX's headquarters in Hawthorne, California, for the competitive event. The competition could be held as early as June 2016.
SpaceX stated in their announcement, "Neither SpaceX nor Elon Musk is affiliated with any Hyperloop companies. While we are not developing a commercial Hyperloop ourselves, we are interested in helping to accelerate development of a functional Hyperloop prototype."
More than 700 teams had submitted preliminary applications by July.