The Boring Company of Elon Musk has won the bet to build a high-speed express train to O & # 39; Hare International Airport in Chicago, the company told CNBC.
The goal of the project is to reduce travel time from downtown Chicago to the O & # 39; Hare international airport to no more than 20 minutes, according to the mayor's office.  Earlier this year, the mayor's office said The Boring Company and the consortium, O & # 39; Hare Xpress, were shortlisted for the project.
Musk said earlier that his company would build a high-speed oop L that connects the international airport to downtown Chicago. When asked to explain what a "high-speed loop" was and how it was different from a "hyperfly", the technology billionaire explained:
The mayor's office said that each vehicle could carry up to 16 passengers and their luggage, and that it would depart from O'Hare and downtown Chicago with a frequency every 30 seconds. informed the Verge. He added that The Boring Company planned to charge more economic fares than the proposal required: that the premium service cost less than the current services of taxis and shared trips.
Officials at Emanuel and Boring Company said it is too early to provide a timeline for the completion of the project or its estimated cost, the Chicago Tribune reported, adding that the cost would be generated by the Musk company. Negotiations between city officials and The Boring Company would begin to reach a final agreement, the Tribune said.
Still, The Boring Company has estimated that the project would cost less than $ 1 billion, the newspaper said, quoting a family source with the firm
Company executives did not immediately respond to CNBC's request to clarify the cost of the project.
The boring company began as Musk's idea of building a series of tunnels in Los Angeles to travel underground and allow passengers to avoid traffic. 19659003] The company raised money by selling company products, including hats and flamethrowers. In March, Musk tweeted about a new iteration of merchandise: "LEGO-like interlocking" hollow bricks from the rock below Los Angeles, where The Boring Company is making tunnels.