Elon Musks Boring Company Speculated to Reach $20 Billion
The Boring Company of Elon Musk has made a tunnel for Tesla from Las Vegas Convention Center to Resorts World hotel on the Vegas Strip and it is widely being speculated to reach a milestone of $20 billion. It shared a video on Twitter featuring digging machine Prufrock-1 that emerged at the hotel.
The tunnel link is 29 miles long and to ferry passengers between 50 or more stations across Vegas. It is to be a part of the Vegas Loop that is now under construction. The Prufrock-1 is efficient enough to bore one mile a week.
The Boring Company built the first underground transport system at the Las Vegas Convention Center and called it LVCC Loop. It is a 17-mile-long link equipped with three stops.
The Boring Company was founded by Elon Musk in 2016. It is an American infrastructure and tunnel construction services company and currently designing intracity transit systems. Until now, it has completed two links in Vegas and one in Los Angeles County.
Musk said the goal is to enhance tunneling speed and establish a tunnel network that is financially feasible. It is learned to be implementing a contemporaneous operation in the future to bring down the cost of tunneling operations. With improved technologies, the company is re-using the soil materials for tunnel construction.
SpaceX and Tesla board member Steve Jurvetson said the tunnels have reduced size as well as complexity along with the cost of digging.
Meanwhile, Musk hinted the company may be put into work in creating a self-sustaining human society on Mars and building underground habitats in places where radiation shielding is an issue. He claims an entire underground city can be made if anyone is looking for it.
Construction work for the tunnel of 1.14-mile started in 2017 on a route in Hawthorne, California, which is next to the SpaceX headquarters. About a year later, Musk said the boring part was completed and to be open in a couple of months.
It was earlier announced an entry fee of $1 would be levied on the first day of operation. The project was opened in December 2018 and showcased a Tesla Model X inside it.
Prufrock was exclusively designed and built by the company and it is claimed to support a 15x improvement in speed. The diameter of its tunnels is 12 feet, which is smaller than the conventional rivals. It has achieved tunneling rates of 49 feet a day.