Published: Fri, June 15, 2018
Money | By Armando Alvarado

Elon Musk's Boring Co to build high-speed commuter system in Chicago

Elon Musk's Boring Co to build high-speed commuter system in Chicago

That compares to the roughly 40 minutes it now takes to make it from O'Hare to the city via the Chicago Transportation Authority's Blue Line train.

The current plan is for Musk's company to cover the construction fees of the transit system up front but then keep any revenue generated from passenger transit fees and in-car shopping sales and advertisements. "He's proven something", Emanuel said, according to the newspaper.

If The Boring Company succeeds at its stated goal of bringing down the cost of underground tunneling to one-tenth of what it is today, the Chicago project will likely be just the beginning of a new wave of construction. The Chicago Express Loop, as it's being called, will connect O'Hare Airport at terminals 1-3 and Block 37 in downtown Chicago. The Chicago Express Loop service will operate for 20 hours per day, seven days a week, and it's expected that a skate will depart from each station every 30 seconds.

High speed rail, connecting Chicago's Loop to O'Hare is now on track to be become a high teach reality.

If you're planning to fly into Chicago's O'Hare International Airport at some point in the future, you might be pleasantly surprised by the transit options.

The Boring Co has been promoting its plans for Hyperloop tunnels that would allow high-speed travel between cities, such as travel from NY to Washington in less than 30 minutes. The Loop's 18-mile route supposedly would cost passengers $20 to $25 per trip.

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As for how much it would cost Chicago travelers to ride on the system, the Boring Company says that while it's not yet finalized, the fare "will be less than half the typical price of taxi/ride-share services", but higher than the city's Blue Line train from O'Hare - which now costs $5, as a special fare.

"This transformative project will help Chicago write the next chapter in our legacy of innovation and invention".

Musk has claimed The Boring Co. can drastically cut the cost and time of drilling tunnels.

Hyperloop technologies could revolutionise travel: here's everything you need to know about the technology and the companies involved.

Musk is banking on being able to tunnel much faster than any other company, although his technology remains unproven. The plan, which still requires regulatory approvals, will be formally announced by Mayor Rahm Emanuel on Thursday afternoon.

The project also would face significant safety and environmental hurdles, especially given the untested nature of Musk's technology. I'm glad Musk is trying to innovate here - underground rail projects in the United States are far more expensive than they should be, and the space is ripe for innovation.

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