ABC News Australia reported that Obayashi's space elevator will reach 96,000 kilometers (59,652 miles) into space. People riding the elevator will be inside robotic cars powered by magnetic motors. It will be able to carry around 30 people at a time and will take seven days to finish its journey.
The space elevator will be constructed using carbon nanotechnology to make cables.
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"The tensile strength is almost a hundred times stronger than steel cable so it's possible," Obayashi Research and Development Manager Yoji Ishikawa said.
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