The Boring Company, founded by Tesla CEO Elon Musk is setting to build a high-speed underground transportation system. This will help the passengers to go from downtown Chicago to O’Hare International Airport in mere minutes.
The electric vehicle in the proposed tunnel system will carry 8 to 16 people. Each electric car can travel at speeds of 125 to 150 mph.
Tesla CEO Elon Musk said that this will fund the project in its entirety, and that it plans to collect ticket and advertising revenue. No information has been released about estimated construction costs or when construction might begin.
Adam Collins, a spokesman for Mayor Rahm Emanuel, said that the journey from the airport will take approximately 12 minutes. It compares to the roughly 40 minutes it currently takes to make it from O’Hare to the city via the Chicago Transportation Authority’s Blue Line train.
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. A Blue Line ticket from O’Hare costs $5.
Elon Musk touted a possible high-speed tunnel project connecting Washington, D.C., and New York.
The flagship electric car company Tesla Co. struggled last year to turn an annual profit for the first time in its 15 years of doing business. He announced Tuesday that Tesla would be laying off about 3,600 workers mainly from its salaried ranks as it slashes costs. He said the cuts amount to about 9 percent of the company’s workforce of 40,000.
The 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. For nearly all of its history, Tesla has put up losses while investing heavily in technology, manufacturing plants and an extensive car-charging network.
He claims that his Tesla models are the safest cars on the road have come under some scrutiny, in particular the Autopilot semi-autonomous driving system.
The Model S sedan scored the highest numerical rating of any vehicle in crash tests conducted by the National Highway Traffic Safety Administration, and the Model X was the first SUV to get a five-star rating in every category.
Tags: Adam Collins, future, Tesla
