Published: Thu, June 14, 2018
Markets | By Otis Pena

Musk company to build Chicago-to-O'Hare express transport

Musk company to build Chicago-to-O'Hare express transport

"We have a person in Elon Musk who started an electric auto company from nothing, and started a space company from nothing, and he has proven that he doesn't like to fail", Emanuel said.

The plan for the "Chicago Express Loop, " announced early Thursday by Chicago Mayor Rahm Emanuel and Musk's tunneling firm, calls for the construction of an underground tunnel with concrete tracks on which "skates" - individual vehicles built on a modified Tesla X chassis - would carry 8 to 16 passengers at between 125 to 150 miles per hour from one of the world's busiest airports underneath some of the country's most congested roads. Instead of standard 28 feet one-lane tunnels, Boring says by reducing the diameter to 14 feet it can reduce tunneling costs by three to four times.

"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. That plan will then go to the City Council.

In an interview with the Chicago Tribune, Emanuel said the city is betting on Musk's achievements with Tesla and SpaceX to get the airport link running.

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In the end, we want to entertain where we possibly can". "I'm professional. We know everything else comes on the back of that.

You could take the regular 40-minute train from one of the busiest airports in the world, or how about a 12-minute high-speed trip? As previously reported by FOX Business, Musk envisions loop commuters will pay just $1 per trip from downtown Los Angeles to Los Angeles International Airport, which, according to the Boring Company's concept, would take just eight minutes per 11-mile ride.

The project will be entirely paid for by The Boring Company, which will generate revenue from ticket sales, advertising and merchandising. The Boring Company will be funding the multibillion-dollar project itself, with no help from the government.

The system will include 16-passenger vehicles called "skates" that will travel up to 150 mph (240 km per hour) through a tunnel.

An overall project costs and construction timeline will be finalized during this process. It also requested that fares be less than the current rate for ride-shares and taxis on the same journey. After Thursday's announcement, the city will begin one-on-one contract negotiations with The Boring Company. The company has been digging under a SpaceX parking lot, while its application to dig a tunnel beneath Los Angeles and Culver City is caught up regulatory obstacles and legal challenges.

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