The firm beat a consortium that included engineering agency Mott MacDonald, which labored on the event of a terminal at London’s Heathrow airport, and an infrastructure fund backed by former basketball star Earvin “Magic” Johnson.
CNBC reached out to the mayor’s workplace and the Chicago Department of Aviation exterior workplace hours for feedback however didn’t instantly hear again.
Last yr, Chicago Mayor Rahm Emanuel referred to as for proposals to design, construct, finance, function and preserve an O’Hare Express working system via a public-private settlement with the town.
The purpose of the mission is to chop down the journey time from downtown Chicago to O’Hare International Airport to not more than 20 minutes, in accordance with the mayor’s workplace.
Earlier this yr, the mayor’s workplace mentioned that The Boring Company and the consortium, O’Hare Xpress, have been shortlisted for the mission.
Musk beforehand mentioned that his firm would construct a high-speed Loop connecting the worldwide airport to downtown Chicago. When requested to clarify what a “high-speed loop” was, and the way it was totally different from a “hyperloop,” the tech billionaire defined:
The mayor’s workplace mentioned that every automobile would carry as much as 16 passengers and their baggage, and would depart from O’Hare and downtown Chicago as ceaselessly as each 30 seconds, the Verge reported. It added that The Boring Company deliberate to cost fares cheaper than what the proposal required: that the premium service ought to price lower than present taxi and ride-share providers.
Emanuel and Boring Company officers mentioned it is too early to provide a timeline for the mission’s completion or its estimated price, the Chicago Tribune reported, including the fee can be born by Musk’s firm. Negotiations between metropolis officers and The Boring Company would start to succeed in a remaining deal, the Tribune mentioned.
Still, The Boring Company has estimated the mission would price lower than $1 billion, the newspaper mentioned, citing a supply accustomed to the agency’s proposal.
Company officers didn’t instantly reply to CNBC’s request for clarification on the mission’s price.
The Boring Company started as Musk’s idea to construct a collection of tunnels in Los Angeles to journey underground and let passengers keep away from visitors.
The agency raised cash by promoting firm merchandise together with hats and flamethrowers. In March, Musk tweeted about a new iteration of merchandise: “LEGO-like interlocking” hole bricks from the rock beneath Los Angeles, the place The Boring Company is tunneling.