Elon Musk-led tunneling company The Boring Co. will open the first tunnel to Las Vegas' Harry Reid International Airport next year.
20,000 People Per Hour
The company hosted a Space on the social media platform X on Monday, sharing updates on the company's tunnels in Vegas as well as Nashville, Tennessee. The company shared that its cost per mile of tunneling stands at $10 million currently and expects to reduce it to $3-$4 million in the near future.
The tunneling company outlined that it will open doors to its first tunnel to the airport in 2026, which will have a capacity to transport over 20,000 passengers in one hour.
The company says rides would cost around $12 to the airport from downtown and a $10 ride from the airport to the Las Vegas Convention Center, which the company claims would be 50%-80% lower than an average Uber Technologies Inc. (NYSE:UBER) ride.
The Boring Co.'s Legal Troubles
The updates follow Boring Co. being in the spotlight after reports emerged that it was fined and cited for hazardous working conditions at the company's sites in Las Vegas by the Occupational Safety and Health Administration (OSHA), as well as fined over $500,000 for allegedly dumping tunneling fluid into the city's manholes.
Following the citations, officials from the company held a meeting with the Nevada Governor's office, and the citations and fines were rescinded. However, any report of the meeting also reportedly disappeared from public records. After the reports, the administration shared that the disappearance was an error.
Individualized Public Transit, Dubai Loop
The Tesla Inc. (NASDAQ:TSLA) CEO, meanwhile, touted the idea of “individualized mass transit” via autonomous electric vehicles as the future of transport. On the other hand, the tunneling company is also planning to construct a proposed Dubai Loop.
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