Elon Musk's Boring Company Wins Chicago High-Speed Transit Contract
Chicago cuts deal with Musk’s Boring Company to whisk passengers to O’Hare Airport underground on high-speed electric vehicles
On Thursday, the Chicago Infrastructure Trust, on behalf of the City of Chicago, announced that it was awarding Elon Muskâ€™s Boring Company a contract to build a rapid-transit link between Oâ€™Hare Airport and downtown.
The trip currently takes about 40 minutes on public transportation; the Boring Company aims to cut that to 12 minutes, using electric shuttlesâ€”Musk calls them skatesâ€”to zip passengers through tunnels at 125 to 150 miles per hour, paying US $20 to $25 a rideâ€”roughly half the price of a taxi or Uber.
The Chicago Tribune reported that the entire project is expected to come in under $1 billion.
The goal of the project, according to the Boring Companyâ€™s web site, is â€œto alleviate soul-destroying traffic.â€�
Four companies had submitted competitive bids. The Boring Company was one of two finalistsâ€”the other two were eliminated because of questions regarding their â€œability to deliver the critical project with no public subsidy,â€� according to the Sun Times
Musk will front the construction funds in return for a share of the fees paid by passengers and advertising revenue.
Itâ€™s been a big month for the Boring Company. The companyâ€™s â€œNot-a-Flamethrowerâ€� flamethrowers, sold out in preorders, recently started landing in customersâ€™ hands (just in time for Californiaâ€™s fire season).
More on what the Boring Company is up to here.