Categories LATEST

Elon Musk offers LA residents $1 per ride in underground tunnels

As usual, Tesla (TSLA) CEO Elon Musk did not disappoint those who were eagerly waiting for his comments at the community meeting of his Boring Company in a Los Angeles neighborhood. While answering questions about his ambitious underground rapid transport system, Musk assured Los Angeles residents that a ride in the “Loop” system the company is developing beneath the city will cost $1.

According to the billionaire businessman, who described the LA transport network as “soul-destroying traffic”, the pods used for the mass transit will have the capacity to carry 16 passengers and travel at speeds of up to 150 mph.

Musk also sought the participation of the community members in the process, and offered free ride for those who would want to test the underground tunnels. Another point stressed by him is the viability and safety aspects of the project, which is learned to be under the review of the LA Metro.

Fashioned as a typical highway with a series of loops connected to it, the tunnel system creates minimal noise and is touted as a solution to the crippling traffic congestion on city roads.

While elaborating on the boring activities that employ special electric motors, Musk said the hyperloop is designed to ply between multiple cities – San Francisco to LA and New York to Baltimore. The rocket techniques perfected by his company SpaceX will be used for building the vacuum tunnels for the transit system.

The underground tunnel system envisaged by Musk has raised many eyebrows for the unconventional method adopted for its development. Meanwhile, Musk’s company is facing legal action from certain members of the local community who challenge the approval granted for the project.

The idea is to take cars and other vehicles to underground electric platforms, or stations, using street-level elevators. And, the transit system will take the passengers through a network of tunnels to stations nearest to their destinations.

Interestingly, the maverick entrepreneur seems to have solutions for most of the common issues associated with tunnel boring, and some of them are exceptionally innovative. For example, he is planning to make highly durable bricks and large Lego kits from the dirt removed from the tunnels. Musk also claims to have built a battery-powered locomotive for removing, which will surprisingly run on Model 3 engines and batteries.

Tesla shares ended the last trading session lower, continuing the recent trend, and slipped further in the premarket Friday.

Most Popular

Earnings calendar for the week of May 17

Benchmark stock indexes pared their recent gains early this week amid elevated inflation concerns, but regained a part of the momentum later aided by recovery in tech stocks. The Dow

Aurora Cannabis (ACB) Earnings: 3Q21 Key Numbers

Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as

Walt Disney (DIS) Q2 revenue down 13%; earnings beat estimates

Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and


Add Comment
Viewing Highlight