Musk's Boring Company to build high-speed system in Chicago

Cornelia Mascio
Giugno 14, 2018

Last year, it started a bidding process for a transit system and in March, we reported that The Boring Company was among two finalists in the bidding process.

Chicago has selected billionaire entrepreneur Elon Musk's Boring Co to build a high-speed underground commuter system from the downtown Loop district to O'Hare International Airport, one of the world's busiest, the company and the mayor's office said.

At the company's annual shareholder meeting earlier this month, Musk said he expected the Palo Alto, California, company to post a quarterly profit during the July-September period.

"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 Company tweeted late Wednesday after reports emerged that it had been chosen. It is unknown when the project will go online, but the concept has made some headway in major United States cities.

The city has always been looking for a way to address the issue of long transit time between its major airport and downtown.

The company and the city are entering the negotiation phase. Collins says the journey in electric vehicles will take roughly 12 minutes. The Boring Company will have to finance the entire build itself and operate and maintain the express line after it's completed. The plan comes in response to Chicago Mayor Rahm Emanuel's request previous year for proposals to build and operate a high-speed rail line that will whisk passengers from the airport to downtown in 20 minutes or less. They say that the project will be "100 percent privately funded". The company, founded by Tesla CEO Elon Musk, said this system could reach speeds of 150 miles per hour and make the trip from Block 37 to O'Hare in just 12 minutes. Experts have raised concerns over the financial viability of Loop transportation systems, as well as potential environmental and legal challenges. No information has been released about estimated construction costs or when construction might begin.

Rivkin said the estimated fare will be $20 to $25 per ride, which is significantly less than a taxi ride to or from the airport.

As specified by the city, The Boring Company will be the one operating and therefore be taking revenue from the service once in operation.

In Los Angeles, the company had been making a little more headway, receiving permission from the city to build a 2.7-mile proof-of-concept tunnel and station parallel to the 405 freeway.

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