Elon Musk will compete to finance high-speed Loop in Chicago


(Reuters) – Technology entrepreneur Elon Musk said on Tuesday that The Boring Company will compete to finance, build and operate a high-speed loop that connects the O & # 39; Hare airport with downtown Chicago.

Elon Musk, founder, CEO and chief designer of SpaceX and co-founder of Tesla, speaks at the SpaceX Hyperloop Pod II Competition in Hawthorne, California, USA. UU., August 27, 2017. REUTERS / Mike Blake

Musk, the executive director of the electric car maker Tesla Inc and the rocket company SpaceX, recently started the Drilling Company to build transport tunnels for the system , which says it would be much faster than the current high-speed trains and the use of electromagnetic propulsion.

Earlier on Wednesday, Chicago Mayor Rahm Emanuel asked respondents to submit proposals to develop, design, equip, finance, operate and maintain an operating system O & # 39; Hare Express through a public agreement- Private with Chicago. (bit.ly/2j1rHsC)

"Although the cost estimates for the project are still not known, the RFQ requests that the O & # 39; Hare Express service will be financed only with the specific income of the project. (such as rates or advertising) and financed entirely by the concessionaire, "Mayor Emanuel's office said in a statement.

"There will be no taxpayer funds for the project."

Musk is trying to revolutionize transport by sending pbadengers and cargo to the capsules through an interurban system of giant vacuum tubes known as "hyperloop".

When asked on Twitter about his proposed "high-speed loop" that would link the O & # 39; Hare airport to downtown Chicago, Musk tweeted: "A Loop is like a Hyperloop, but without aspiring within the tube".

"It is not necessary to get rid of air friction for short routes," Musk added.

Pbadengers will travel in "electric capsules" safely. Rails maybe, maybe not, "Musk said in another response.

Report by Rishika Chatterjee and Shubham Kalia, Gopakumar Warrier Edition

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