Musk's Boring Company wins bid to build high-speed system in Chicago
Musk's Boring Company wins bid to build high-speed system in Chicago
Elon Musk’s Boring Company wins the nod from Chicago for airport express link
15 June, 2018, 11:07
Chicago has selected Elon Musk'sBoring Co to build a $1 billion underground transit system that will whisk people from Chicago's downtown Loop district to O'Hare International Airport at 150 miles per hour (240 km per hour), the billionaire entrepreneur and Mayor Rahm Emanuel said on Thursday.
"We're really excited to work with the Mayor and the City to bring this new high-speed public transportation system to Chicago!" the Boring Companytweeted late Wednesday after reports emerged that it had been chosen.
Prices for the express service have not been set, but The Boring Company's proposal said that they'll be more expensive than the Blue Line, but cheaper than a auto service.
Drilling for the project, pending regulatory and environmental approvals, could begin in as soon as three to four months, said Musk, who also founded and heads luxury electric vehicle maker Tesla Inc and rocket maker SpaceX.
Elon Musk's Boring Company just netted itself a pretty big contract.
At the company's annual shareholder meeting this month, Musk said he expected the Palo Alto, California, company to post a quarterly profit during the July-September period.
Known as the Chicago Express Loop, the new system will feature "electric skate" vehicles that will whisk passengers through underground tunnels at speeds up to 150 miles per hour, according to The Boring Co.'s website.
The Chicago Express Loop would be "100 percent privately funded", the Boring Company says. It'll be called The Chicago Express Loop.
Emanuel's office said Chicago will negotiate directly and only with The Boring Company for a deal that will eventually be revealed to the City Council.
And Musk has been pretty public about the Boring Co.'s efforts to dig transportation tunnels underneath parts of the Los Angeles area that are meant to help alleviate that region's traffic snarl.
"Given his track record, we are taking his reputation and saying, "This is a guy in two other transportation modes who has not failed". Fares would amount to $20 to $25 a ride, the Tribune reported. Video renderings of the system show autonomous vehicles that can pick up passengers at street level and then move them along concrete tubes to their destination. Last year, Gregory Hauser, a civil engineer at Dragados who recently managed the replacement of Seattle's Alaskan Way Viaduct-the largest underground highway project in the US-said what The Boring Company attempting is on par with the challenge faced by SpaceX.
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