Musk's The Boring Company wins bid for Chicago high-speed airport link

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The city of Chicago has chosen The Boring Company to build its next transit project-dubbed "Loop"-which aims to whisk passengers from downtown to O'Hare airport at speeds of 100 miles per hour".

Elon Musk's venture was picked to finance and build an express train from the downtown Loop neighborhood to Chicago's O'Hare International Airport, Mayor Rahm Emanuel announced.

The mayor's office said the project would be funded entirely by Musk's company, with no taxpayer funding.

Elon Musk's Boring Company won a bid that could bring autonomous, high-speed public transit to Chicago. Given that a journey to O'Hare Airport is usually a 40-minute trip along the city's blue line, this is an extremely bold claim. Maryland's Department of Transportation gave conditional approval to the construction of a tunnel from Baltimore to Washington for a super-high-speed transportation system, The Washington Post reported in October.

The Chicago and Los Angeles projects come as Musk wrestles with production problems for the rollout of the highly anticipated Tesla Inc Model 3 sedan. The system will operate 20 hours a day, seven days a week.

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In May, Musk said a tunnel built under a Los Angeles suburbto test a transportation system was nearly complete and that the public would be offered free rides in a few months. The trip now takes 30 to 45 minutes.

Musk is banking on being able to tunnel much faster than any other company, although his technology remains unproven.

As for what form the company's train will take, past year Musk tweeted: "Electric pods for sure". And Boring's technology is good enough that officials in Los Angeles and Baltimore recently have signed off on initial projects that could lead to much bigger efforts, such as a vacuum tube "hyperloop" from Baltimore to Washington, D.C., and eventually NY. The project is expected to cost less than $1 billion.

"We're taking a bet on a guy who doesn't like to fail - and his resources". "The risk - with no financial risk - is I'm betting on a guy who has proven in space, auto and now a tunnel, that he can innovate and create something of the future". Boring Co. leaves room for the possibility of cars using the system, too. A source told The Chicago Tribune that the target is in the $20 to $25 range. Details have yet to be finalized, but it looks like the project will cost around $1 billion and the Boring Company will pay most of the construction fees in exchange for keeping revenue from ticket sales, advertising, and in-vehicle purchases. The website says a skate could also hold "a single passenger vehicle".

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