[ad_1]
Elon Musk is famous for his electric vehicles, reusable rockets and satellites capable of transmitting high-speed internet to the most remote parts of the planet. But in 2016, he looked down. The idea was to create a business that would solve the traffic by building a system of underground tunnels.
Musk founded The Boring Company in 2017. In a video released the same year, the Boring Company teased a system in which cars and public transport modules are lowered underground by metal platforms and zoomed into tunnels at 124 mph, unimpeded by pesky traffic. The problem with the tunnels, Musk said at an event unveiling the company’s first demo tunnel in 2018, was that they take a long time to build and are very expensive.
“The extension of the LA metro that [was] just finished costing $ 2 billion for two and a half miles. There was a subway extension in New York City that I think cost $ 2 billion for a mile, ”Musk said at the event. “So it’s clear that something needs to be done to revolutionize tunnel technology. We have to be able to build tunnels a lot faster and for a lot less money. “
At the event, reporters tested the tunnel at speeds of up to 50mph, much slower than the 150mph envisioned by Musk. The ride was also quite bumpy, as the alignment wheels attached to the Teslas bounced off the side walls.
Although still rudimentary, the demo tunnel has inspired the confidence of investors and customers. Initially, the Boring Company was largely started by Musk, but $ 1 million also came from the sale of 50,000 hats and an additional $ 10 million from the sale of 20,000 of the brand’s flamethrowers. Musk even tried to sell the earth mined from the tunnel as Lego-type bricks.
In 2019, the Boring Company made its first external investment. The $ 120 million funding round came shortly after the company landed its first paying client: the Las Vegas Convention and Visitors Authority.
The Las Vegas Convention Center Loop opened to the public in June. The 1.7 mile section of the underground road cost the convention authority $ 52 million and took the Boring Company about 18 months. This was the company’s first completed public project, but many of its other proposed projects have reached dead ends.
“A lot of construction professionals will tell you that, you know, it’s not the speed of tunneling that you have to worry about. It’s the environmental review. It’s the bureaucratic process. It’s the permits. “Says Cyrus Farivar of NBC News, who reports on some of the Boring Company’s blocked projects.
Despite the challenges, cities like Miami and Fort Lauderdale, Florida seem eager to partner with the Boring Company.
“We have now had discussions with the Boring Company about building a 3.2 mile tunnel from our train station, called Bright Line Station, which is in the middle of town, to the beach,” said said Fort Lauderdale Mayor Dean Trantalis. CNBC. “And that would be two tunnels, one to the east, one to the west. And the business model is you have Tesla vehicles with drivers carrying you under the streets, down to the beach, completely eliminating all traffic. “
Trantalis said rough estimates from the Boring Company put construction costs between $ 10 million and $ 15 million per mile, not including the cost of the stations. Details are still being worked out, but tunnel users would likely pay a fee for the service. The city is accepting other offers for the project, but Trantalis said Fort Lauderdale has already addressed many of the bureaucratic issues that have caused Boring Company projects to fail in other cities.
Watch the video above to learn more.
[ad_2]
Source link