Among the various innovative companies of billionaire Elon Musk, The Boring Company which digs tunnels and wants to create underground rapid transport is now valued at more than 5.6 billion dollars.
The company The Boring Company is one of the innovative initiatives of businessman Elon Musk to try to solve the problem of daily traffic jams around major cities.
His solution: dig tunnels at a brisk pace to install rapid transit systems under cities. In addition to a demonstrator in California, the first concrete project was set up in Las Vegas under the Convention Center hosting the CES technology show.
If the result is not yet up to the promises with the use of Tesla vehicles with driver to travel through the tunnels, the firm has already negotiated an extension under the Strip area where the city’s casino hotels are located, to the airport.
While waiting to be able to run shuttles at more than 200 km/h in its tunnels, The Boring Company has just carried out a fundraising of $675 million which brings its valuation to $5.675 billion.
With this new money, the company intends to recruit employees in engineering and production and strengthen its R&D to carry out the Loop project in Las Vegas, which should connect 51 stations over 29 miles (47 km), with the capacity to transport 57 000 people per hour. Other tunnel projects in other cities (particularly in Austin, Texas) are under discussion.
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