The Hyperloop One pod measures 28 feet long and is designed to carry people and cargo. Hyperloop One Hyperloop One successfully tested its hyperloop technology on Thursday.

The startup privately conducted the test on its DevLoop track in Nevada, marking the first successful completion of a full-scale Hyperloop system in a vaccum environment. The vehicle coasted above the track for 5.3 seconds using magnetic levitation and reached a top speed of 70 mph.

The startup has referred to the test as its "Kitty Hawk moment."

There's still a long way to go before the Hyperloop system, which Elon Musk outlined in a White Paper in 2013, can become a reality. Hyperloop One will now look to reach 250 mph in subsequent testing.

But Hyperloop One has big ambitions for the new form of transit.

The startup currently has feasibility studies under way in Dubai and Finland. And Earlier this year, Hyperloop One launched a global challenge to crowdsource route proposals for a Hyperloop system in the US.

After receiving over 2,600 submissions, the startup selected 11 finalists. Hyperloop One says it will ultimately select two or three routes to study further. Scroll down for a look at all the routes under consideration: