A company developing the Hyperloop plans to reveal something 'huge' this week

The startup Hyperloop Technologies is planning to make a "huge" announcement this week.

The company as well Shervin Pishevar, its co-founder and investor, took to Twitter Sunday evening to tease the news.

The Hyperloop, of course, is a futuristic transport system that carries passengers in capsules at speeds reaching more than 500 miles per hour. Tesla and SpaceX CEO Elon Musk first proposed the idea back in 2013 and made his research public so others could pursue developing the concept. Hyperloop Technologies is one of the startups doing just that. In December, Hyperloop Technologies announced that it was building its first test track at the Apex Industrial Park in North Las Vegas.

This first test track, though, is not the full-scale test track. Rather, it is a track a little over half-mile long where the company is conducting Propulsion Open Air Tests. These tests consist of the company sending its linear motors down the track at approximately 330 miles per hour.

At the time of the announcement, the company said that it planned to begin these open-air tests at the site in the first quarter of 2016. Hyperloop Technologies also said that it plans to start testing its full-scale system, which entails sending a levitating pod down two miles of Hyperloop tube at 700 miles per hour, some time during the fourth quarter of this year.

A site for the this full-scale track has not yet been announced, however, the company is currently storing Hyperloop tubes at the Apex site, which could suggest this is where the full-scale system may be built. 

Media outlets, including Tech Insider, will be heading to North Las Vegas Tuesday and Wednesday for the events and will keep you updated on the news.

NOW WATCH: How exactly does the Hyperloop work?

Please enable Javascript to watch this video