Richard Branson's Virgin Hyperloop has completed the world's first passenger ride on a high-speed levitating pod system.

It's an ultra-fast form of transportation propelled by magnetic levitation, the same technology used in high-speed bullet trains.

Hyperloop envisions a future where floating pods packed with passengers and cargo will hurtle through vacuum tubes at speeds of 600 miles per hour or faster.

Sunday's safety test was a key step toward making that possible.

The Los Angeles-based company said Sunday (November 8) they reached speeds of up to 107 miles per hour.

The company has previously run over 400 tests without human passengers at its testing site in Las Vegas, Nevada, but this was their first trip carrying travelers, Hyperloop executives Josh Giegel and Sara Luchian.

The company's Chairman called the test historic, as they hope to transform human and cargo transportation.

A magnetic hyperloop system would be twice as fast as a commercial jet and four times faster than a high-speed train between New York and Washington D.C.

Canada's Transpod and Spain's Zeleros have built similar transportation technologies, hoping to slash travel times, congestion and environmental harm linked to gas-guzzling machines.

Virgin Hyperloop has said they aim to be safety certified by 2025 and running commercial operations by 2030.