Elon Musk, Boring Company to negotiate with Chicago for Loop train system

Elon Musk, Boring Company to negotiate with Chicago for Loop train system

The bid win doesn't come as a huge surprise, as Musk tweeted plans to work with the city of Chicago on the airport rail project in November, and made the bid for The Boring Company in February.

Elon Musk's Boring Co.is the victor in a bid to build a multibillion-dollar high-speed express train to O'Hare International Airport, according to people with knowledge of the matter.

In its press release, the city said that approximately 20,000 people travel between O'Hare and Chicago's Loop every day, and that number is expected to rise to 35,000 per day by 2045.

Musk's company was selected out of four other bidders. According to the Chicago Sun Times, The Boring Company says it can install the whole thing, including the new airport station and Block 37 renovation, for under $1 billion.

It is unknown when the project will go online.

It's a sizeable victory for a company that was launched just 18 months ago, is working with unproven futuristic ideas, and-aside from a test tunnel it is digging in the Los Angeles suburb Hawthorne, California-lacks construction experience.

The company will build and operate a "Loop", one of its new high-speed transit system ideas.

A taxi ride from downtown Chicago to O'Hare today costs about $40, and can take more than hour in morning traffic. The city of Chicago's press release confirmed that The Boring Company has proposed vehicles that will travel faster than 100 miles per hour.

The vehicles, which the company calls "electric skates", operate on platforms adapted from the Tesla Model X.

The Boring Company is promising that the system will transport passengers in 12 minutes with automated electric cars that carry 16 passengers (and their luggage) to a vehicle. They are created to carry between eight and 16 passengers, or a single passenger vehicle, according to the company.

The announcement is a major step for The Boring Company, which was started in 2016 by Tesla and SpaceX CEO Elon Musk. It is unknown when the project will go online, but the concept has made some headway in major United States cities. The result gives the young company a big boost in legitimacy as it tries to get transportation projects underway in Los Angeles and Washington, D.C.

Musk announced last month that it had almost finished building its first stretch of tunnel there.

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