Elon Musk’s Boring Company will build high-speed transit tunnels in Chicago

Roman Schwartz
June 15, 2018

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.

The company has designed a system that uses computer-controlled electric-powered wheeled "skates" that can travel at speeds of up to 150 miles per hour while carrying passengers, goods or vehicles riding on top of them.

A taxi ride from downtown Chicago to O'Hare today costs about $40, and can take more than hour in morning traffic.

Without providing a specific timeline, the Boring Company said it will take over the unfinished Block 37 superstation in the city, which the company said is an "amazing facility", according to the Chicago Sun Times. The Boring Company claims that their technology will be capable of transporting people from O'Hare Airport to Block 37 in downtown Chicago in just 12 minutes.

Between eight and 16 passengers will travel underground in each "skate" electric vehicle between the airport and downtown Chicago.

The work would be done by Musk's The Boring Company, which is now building a test tunnel in Los Angeles.

Construction and final deal details between Chicago and The Boring Company still need to be ironed out, but the Tribune reports that the project will cost less than $1 billion.

US Federal Reserve raises interest rates
The Fed had said its key rate "is likely to remain, for some time, below levels that are expected to prevail in the longer run". It also forecast an even lower unemployment rate of 3.5% for 2019 and 2020.

The Boring Company is already working on a Loop transportation system in Los Angeles. Experts have raised concerns over the financial viability of Loop transportation systems, as well as potential environmental and legal challenges.

Rivkin said the city hopes to minimize the land-use issues by locating the two tunnels - one inbound, the other outbound - beneath existing government-owned right-of-way areas, such as the Kennedy Expressway or under streets that run diagonally through the Northwest Side, including Elston and Milwaukee avenues.

"We're taking a bet on a guy who doesn't like to fail - and his resources".

According to the Boring Company, the skates would have Wi-Fi and be large enough to hold passengers and cargo.

Each battery-powered electric skate has been based on the Tesla Model X, and will be mechanically confined to a concrete track. "So I don't expect too much trouble doing so in this situation".

"Bringing Chicago's economic engines closer together will keep the city on the cutting edge of progress, create thousands of good-paying jobs and strengthen our great city for future generations", the mayor said in a written statement.

Musk unveiled a plan last month in Los Angeles to build tunnels beneath the city for a high-speed network of "personalized mass transit", promising to build it without disturbance or noise at the surface.

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