According to Electronics Weekly, Japan Will be testing the space elevator concept by having two satellites connected to the ISS by a steel cable. The concept is actually not that expensive. More info here.
The elevator would be powered by an electric motor pulley.
The cars would travel at up to 200kph and arrive at the space station eight days after departure from Earth.
The total length of a cable to be used for the vehicle will be 96,000 kilometers, and the total cost is estimated at $9 billion.
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