Lately, SpaceX CEO Elon Musk has publicized his plans on Mars colonization.

Elon Musk's highly-ambitious Hyperloop project on Thursday announced its official name - Hyperloop Transportation Technologies (HTT).

The Hyperloop project aims to develop an enormous hamster tube transportation system with a hovercraft in it that will transport humans from one place to other at a speed of 800 miles per hour.

The official name for the startup was chosen through a vote on the JumpStartFund website, from a number of options like Tube X, Wrap T, MagTube, The Loop and ScramTram. HTT was selected as it sounds a far more grown up name.

Tesla Motors Co Chief Executive Elon Musk on Friday came forward to defend his company's electric car Model S after a video showing the car in flames dragged the company's shares down.

Tesla shares slipped more than 6 per cent after an automotive blog called Jalopnik published images of widely acclaimed electric car Model S in flames. The car caught fire after it met with an accident on Tuesday south of Seattle, Washington. The video received thousands of page views.

Billionaire Elon Musk, who is well-known for his bizarre futuristic ideas, recently released a video showing off a high-tech technique of interacting with 3D models.

The video shows off SpaceX's custom Iron Man-inspired interface for using hand-gestures in the air to design rockets.

Users of CAD (computer-aided design) have long been designing objects in 3D (three dimensions), but doing the same on a 2D screen using a specialized mouse and keyboard has many limitations.

Tesla Motors Inc will never produce a gas-electric hybrid car in the future, Tesla board member Steve Jurvetson said in a recent TV interview.

Jurvetson said a hybrid car should not be taken as an electric car. He added that a hybrid offers the worst of both - a gas engine and a battery.

Speaking on the topic, he added, "You have the worst of both worlds in many cases, a gas engine and a battery, all the complexity, all the maintenance, all of the tradeoffs that occur in a hybrid car. Hybrid cars are not Tesla's future."