Is Said to Win Chicago High-Speed Train Bid

Elon Musk co-founder and chief executive officer of Tesla speaks as Steve Davis the operations head of Boring Co. listens during a Boring event in Los Angeles California

Is Said to Win Chicago High-Speed Train Bid

"We have a person in Elon Musk who started an electric vehicle company from nothing, and started a space company from nothing, and he has proven that he doesn't like to fail", Emanuel said.

It will link downtown Chicago with O'Hare International Airport.

Chicago has selected Elon Musk's Boring company to build its high-speed underground commuter system, according to The Chicago Tribune. That said, with his other companies, Musk has "been able to pursue and fulfill visions that others say are too hard", Mahmassani added.

The Boring Company, the tunneling venture led by Elon Musk that seeks to build underground pathways that would house high-speed autonomous transit, landed a big win in Chicago on Wednesday night. Emmanuel's goal is to transport travelers from the airport to Chicago's center in 20 minutes or fewer, and at roughly a third of the cost of an expensive taxi or ride-sharing app.

The company beat out a consortium that included Mott MacDonald, the civil engineering firm that designed a terminal at London's Heathrow Airport, and JLC Infrastructure, an infrastructure fund backed by former basketball star Earvin "Magic" Johnson, said the people, who declined to be identified because they weren't authorized to speak publicly. The Boring Company is promising that the system will transport passengers in 12 minutes with automated electric cars that carry 16 passengers (and their luggage) to a vehicle. 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.

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The company and the city are entering the negotiation phase. The city is asking it to "design, build, finance, operate and maintain" the system.

Boring has promised that the project will be "100 percent privately funded".

The project is unusual in that no government funding is involved, forcing the victor to finance the entire construction cost itself. It also requested that fares be below the current rates for taxis and ride-share trips.

In Los Angeles, the company had been making a little more headway, receiving permission from the city to build a 2.7-mile proof-of-concept tunnel and station parallel to the 405 freeway.

If all goes well in the contract-negotiation process, The Boring Company's selection by the city of Chicago is the most significant stepping stone for the company to date.

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