Elon Musk’s Boring Company won a bid that could bring autonomous, high-speed public transit to Chicago.
The Boring Company and the city of Chicago will begin negotiations to develop the company’s Loop transit system, which could transport passengers between downtown Chicago and O’Hare International Airport in an estimated 12 minutes. It’ll be called The Chicago Express Loop.
Musk’s company was selected out of four other bidders. If the Boring Company and Chicago reach a final deal, the project would be privately funded, but many other questions remain, because Loop has not been tested at scale.
It is unknown when the project will go online.
The Boring Company, the tunneling venture led by Elon Musk that seeks to build underground pathways that would house high-speed autonomous transit, landed a big win in Chicago on Wednesday night.
The company and city officials will enter negotiations to bring the Loop transit system to Chicago. Loop aims to shuttle passengers between downtown Chicago and O’Hare International Airport in 12 minutes, at speeds of more than 100 mph, with an estimated trip cost of $20 to $25 per ride, the Chicago Tribune reported.
A taxi ride from downtown Chicago to O’Hare today costs about $40, and can take more than …read more
Source:: Businessinsider – Finance