Elon Musk announced during an event in Austin on Thursday that Texas is a leading candidate for a testing facility for the Hyperloop, a much-anticipated, high-speed mass-transit system.

Texas could also be a potential site for battery and car plants, Musk said at the event, which was held by the Texas Department of Transportation.

Musk isn't just the CEO of Tesla, but also Space Exploration Technologies, a satellite company he has promoted as an underground system capable of carrying passengers up to speeds of 760 miles per hour.

He has said on more than one occasion that the Hyperloop could become a "fifth mode of transportation" after trains, planes, automobiles and boats.

The news comes as the electric vehicle automaker tries to ease restrictions on sales of its vehicles in the second-biggest state in the U.S. Customers can only purchase vehicles over the internet, which is something a lot of dealerships, and states in general, don't like.

The change has been met with opposition by car dealers, especially in Texas.

"It's un-Texan," Musk said, according to Bloomberg. "I don't think we're a huge threat to car dealers."

Musk has had a busy week, especially at the Detroit Auto Show, where he said the automaker wants to build new factories in China and Europe and a second plant in the U.S.

Tesla will boost production of electric vehicles to "at least a few million a year" no later than 2025 from fewer than 40,000 last year. He added though that there is a good chance the company may still not be profitable until 2020, which didn't seem to worry Musk a whole lot.

 Tesla sold 33,000 Model S sedans last year. Tesla's stock soared 48% in 2014 to finish the year at $222.41.

The company's next vehicle, the Model X SUV, is on track to launch this summer, and a cheap Model 3 will become available starting in 2017, according to Reuters. 

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