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

Infographic: Highlights of Halliburton’s (HAL) Q1 2024 earnings results

Energy giant Halliburton Company (NYSE: HAL) Tuesday announced financial results for the first quarter of 2024, reporting lower earnings and a modest increase in revenues. First-quarter revenue edged up 2%

UPS Earnings: United Parcel Service Q1 2024 revenue and earnings fall

United Parcel Service, Inc. (NYSE: UPS) Tuesday reported lower revenues and adjusted profit for the first quarter of 2024. The company reaffirmed its full-year 2024 guidance. On an adjusted basis,

Key highlights from Philip Morris’ (PM) Q1 2024 earnings results

Philip Morris International Inc. (NYSE: PM) reported first quarter 2024 earnings results today. Net revenues increased 9.7% year-over-year to $8.8 billion. Organic revenue growth was 11%. Net earnings attributable to


Add Comment
Viewing Highlight