Hyperloop Transportation Technologies (HTT) is looking to tap the expertise of aerospace experts as it works on developing the high speed transport system known as the hyperloop.
HTT says it will set up a research and development center in Toulouse, France which is home to aviation giant Airbus.
"This is where a huge part of our research will be done. The area is great because you have all the suppliers very close to you and talented people, it's a great opportunity," Dirk Ahlborn, CEO of HTT, told CNBC by phone.
The hyperloop is a concept many believe will challenge other forms of transportation, including airplanes, by moving people and cargo through tubes at speeds of up to 700 miles per hour. Tesla and SpaceX founder Elon Musk came up with the idea for the hyperloop in 2013. Since then two firms, Hyperloop One and HTT have been racing to develop their own versions of the hyperloop.