To get from downtown Chicago to O'Hare Airport can take up to an hour. The city asked for bids from private companies who could build a transit system that will cut that time down to twenty minutes, and The Boring Company was selected for the job.
The Boring Company is building hyperloop tunnels under Los Angeles, but this is different. Beneath Chicago they're going to build "loop" tunnels for electric "skates" (self-driving platforms or vehicles) traveling 100+ mph.
“Each vehicle will carry up to 16 passengers, plus their luggage, and will depart from O’Hare and from Block 37 as frequently as every 30 seconds." They think the system can bring travel time down to twelve minutes.
The company has raised investments of about $112 million, and Chicago is not paying for anything here.
"[Elon] Musk’s own investment represents over 90% . . and the other investors are early employees. No venture capitalist or investment firm w[as] involved."
So Elon has invested over $90 million in The Boring Co.
(cont'd tomorrow)
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