The tests are being carried out at an Ericsson lab in Stockholm, and also involve Netgear and Qualcomm.
Even though they only began last night, they have already shown that 2Gbps is achievable by aggregating 100MHz of spectrum across five frequency bands and utilising 4x4 multiple-input and multiple-output (MIMO) technology.
"With the early success of the latest testing, we can now begin to plan to deploy the 2Gbps enabled 4G technology in our network, targeting high traffic areas like CBDs, stadiums and shopping centres," said Telstra group managing director networks Mike Wright.
"We expect to deploy 2Gbps enabled LTE technology in select locations later in 2018. With the Netgear Nighthawk mobile router expected to be available in late 2018, we are gearing up to launch the world's fastest 4G device on Australia's fastest mobile network."
The four companies gave a demonstration of this technology at Mobile World Congress 2018.
Earlier this year Telstra demonstrated download speeds in excess of 1Gbps using a Samsung Galaxy 9 on its public network in Sydney.