Elon Musk\u2019s Boring Co got the green light to work on a project connecting downtown Chicago to O\u2019Hare International Airport, its first major city contract.<\/p>\n
The plans represent both a victory for the 18-month-old startup and a reality check for the billionaire.<\/p>\n
The project, dubbed Loop, doesn\u2019t match the ambitions Musk laid out in a 2013 white paper. That vision called for a system that would run at 760 miles per hour, which he thought would be perfect for connecting cities that are a few hundred miles apart.<\/p>\n
The Chicago train is expected to reach speeds of up to 150 miles per hour. That should get passengers to the airport in about 12 minutes\u2014still a significant improvement on current options, which often take about 40 minutes by train or car.<\/p>\n
Musk hasn\u2019t given up on his original vision for an ultra-high-speed transport system. At a news conference with Mayor Rahm Emanuel on Thursday, Musk said the Loop \u201cwill ultimately transition to the Hyperloop system.\u201d<\/p>\n
That technology would be designed for longer distances, like, say, Chicago to New York. \u201cThat\u2019s where you\u2019d want to make use of the Hyperloop,\u201d Musk said.<\/p>\n
An update to the Boring Co website on Thursday outlined plans to rely on \u201cautonomous electric skates,\u201d analogous to train carriages carrying eight to 16 passengers apiece.<\/p>\n
The pods will be made by Musk\u2019s other company, Tesla Inc, he said at the news conference. Boring Co leaves room for the possibility of cars using the system, too.<\/p>\n
The website says a skate could also hold \u201ca single passenger vehicle.\u201d<\/p>\n
The system will run underground, giving Musk\u2019s venture a chance to show off its tunnel-boring technology. The company has said it\u2019s faster and cheaper than other subterranean projects.<\/p>\n
\u201cTunnel construction and operation will be silent, invisible and imperceptible at the surface,\u201d the company said.<\/p>\n
A success in Chicago would give Boring Co considerable credibility as it tries to move ahead on other projects, including service within Los Angeles and a planned system between Washington, DC, and New York City. Chicago is bearing no financial responsibility for the project, Emanuel said. Boring Co. will finance the entire construction cost itself.<\/p>\n
Musk is a major financier of the effort, but the business has also raised capital through the sale of merchandise, such as hats ($1 million in sales) and flamethrowers ($10 million). Boring Co said the Chicago project will cost $1 billion, though experts have said similar projects typically cost much more.<\/p>\n
The company said the price for riders will be about half that of an Uber or taxi, which are currently around $40 per fare.<\/p>\n
Funding the effort didn\u2019t appear to be a concern for Musk. \u201cI don\u2019t really have much trouble raising money, historically,\u201d he said.<\/p>\n
\u201cSo I don\u2019t expect too much trouble doing so in this situation.\u201d<\/p>\n