Hyperloop Transportation Technologies' first commercial lines are expected to open to the public by 2022, the firm's chief executive told CNBC Tuesday. The California-based company is building transportation systems based on the hyperloop concept, a model of ultra-fast transport popularized by Tesla boss Elon Musk. It unveiled its first full-size passenger capsule last year at an event in Spain, and CEO Dirk Ahlborn told CNBC the firm has ordered another two as it looks to expand its research and development efforts.

A full-scale passenger Hyperloop capsule is presented by Hyperloop Transportation Technologies on October 2, 2018 in El Puerto de Santa Maria. Cristina Quicler | AFP | Getty Images

As for commercial rides, Ahlborn told CNBC's Elizabeth Schulze at the World Economic Forum in Davos: "The commercial lines we expect to have done approximately in three years." HTT's chief hinted that some people might be able to try out the nascent mode of travel before the end of this year if they signed a waiver.

"We were planning in the Emirates, we still have a target date of 2020 for the first parts," he said. "But again, that's the first commercial line ... if you signed a waiver we could probably ride a little bit earlier." Hyperloop transport networks use magnets to levitate and propel pods through large tubes at speeds comparable to that of an airline. HTT is one company in the space that has gained considerable traction, signing deals with multiple countries to test its technology. Rivals include Musk's Boring Co., Virgin Hyperloop One and Canadian firm TransPod.

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