Germany's plan to launch a magnetic levitation - or maglev - rail service has collapsed amid soaring costs.
It was to be built in Munich from the airport to the city centre, making it Europe's first commercial maglev train.
The plans came unstuck after the estimated cost of the track spiralled to 3.2bn euros ($5bn; £2.5bn), up from 1.85bn euros.
Maglev trains use electric-powered magnets that enable them to float above their tracks, allowing for high speeds.
"The Munich magnetic levitation rail project has collapsed," said Transport Minister Wolfgang Tiefensee.
The developers of the train, Siemens and ThyssenKrupp, had been working on the project which had been spearheaded by construction firm Hochtief.
Rail operator Deutsche Bahn, Munich airport and the European Union were also involved.
How Maglev works
Bavaria's plans for the train, announced last year, had created great excitement in Germany since it had already played a leading role in pioneering the new technology.
It also lifted hopes for the future of the maglev trains, which have enjoyed little commercial success outside China.
In Shanghai, the floating train has shuttled passengers between the airport and the financial district since 2003 at a top speed of more than 500km/h (310mph).
Japan has said it aims to launch its first maglev rail service by 2025.
The UK was first to introduce maglev trains in 1984 in Birmingham to bridge a short distance between the city's airport and railway station.
But after 11 years in operation, reliability problems and the sheer expense of extending the network, which are incompatible with traditional railway lines, prompted its replacement with a conventional system.
HOW MAGLEV TRAINS WORK
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