Maglev trains use electric-powered magnets that enable them to float above their tracks, allowing for much faster speeds than traditional rail services.
The 1.85bn-euro ($2.6bn; £1.3bn) project had faced financing problems.
It is notable that the only regular maglev service at present is in China,
where the floating train whisks travellers between Shanghai's airport and the city's financial district. The maglev, which has a top speed of more than 500km/h (310mph), is regarded as a symbol of German technological prowess.
I've often considered high-speed maglev train networks to be one of the better options for European mass-transit futures.