HOUSTON - The drive from Houston to Dallas can take hours - but a new type of transportation could help you skip the traffic and get to Dallas in just half an hour.

Privately-held company, Hyperloop, is attempting to revolutionize transportation. Passengers would get into a Hyperloop vehicle, or pod, and then gradually accelerate through a low-pressure tube. The vehicle would go as fast as 700 miles per hour on a track that uses magnetic levitation.

Hyperloop is using the technology to create a competition of international proportions. 2,600 teams from around the world have applied to bring Hyperloop to their areas and three U.S. winners will be announced later this year. 

Texas was just announced as one of the 11 finalists in America. A 640-mile Hyperloop would stretch from Dallas to Houston with stops in Austin and San Antonio along the way.

The organizers say the normally three hour trip from Dallas to Austin would take just under 20 minutes. 

If Texas is chosen as one of the winners, Hyperloop says it hopes to have the systems in service by 2021.