Elon Musk launched a tunneling company in 2016, which could play a large part in the Hyperloop's implementation. The Boring Company is centered around digging transportation and freight tunnels to help relieve congestion in larger cities. It could also play a massive part in both hyperloop's construction and keeping costs down.
Musk claims his company will be able to dig tunnels for as little as $10 million to $15 million per mile—a fraction of what tunneling currently costs. The current price of tunneling depends on several factors, but tunnel-based projects can cost between $2.5 billion per mile in places like New York, to $100 million per mile in Asia (Via. Tunneling Online.)
Musk's company has yet to complete a project for under $15 million per mile. However, The Boring Company did complete a 1.7-mile-long tunnel-based project in Nevada for $47 million, which included three stations and was significantly cheaper than other tunnel projects — especially US-based ones.
Because of the speeds involved, any Hyperloop track will have to be as straight as possible. Even slight turns at high speed involve G-forces, and the Earth isn't flat. Tunneling straight through obstacles like hills and mountains makes more sense than going over or around them. If Musk's Boring Company can create those tunnels at a low price, the project's overall cost could drop by billions.