Japanese train sets world speed record at over 373 miles per hour

Japan's seven-car maglev, short for "magnetic levitation" train, set a world speed record Tuesday in a test run near Mount Fuji, clocking more than 373 miles per hour (600 kilometres) an hour.

The new record came less than a week after the company clocked 366 mph (590kph), by breaking its own 2003 record of 361 mph (581 kph).

The maglev hovers four inches above the tracks and is propelled by electrically charged magnets.

Central Japan Railway wants to have a train in service in 2027 plying the route between Tokyo and the central city of Nagoya, a distance of 177 miles (286 kilometres).

The service, which would run at a top speed of 500 kilometres per hour, is expected to connect the two cities in only 40 minutes, less than half the present journey time in the shinkansen bullet trains.

By 2045 maglev trains are expected to link Tokyo and Osaka in just one hour and seven minutes, slashing the journey time in half.

However, construction costs for the dedicated lines are astronomical -- estimated at nearly $100 billion just for the stretch to Nagoya, with more than 80 percent of the route expected to go through costly tunnels.

Japan is looking to sell its shinkansen bullet and magnetic train systems overseas with Prime Minister Shinzo Abe acting as travelling salesman in chief in his bid to revive the Japanese economy partly through infrastructure exports.

He is due in the United States this weekend, where he will be touting the technology for a high speed rail link between New York and Washington.

Here is the full video via The Guardian: