5 Top Stocks to Trade Tuesday: NFLX, TSLA, AMD ... >>> READ MORE

Boring Company Wins Bid to Build Transit Tunnels at Chicago Airport

Trips will only take 12 minutes

By William White, InvestorPlace Writer


Elon Musk’s Boring Company has won a bid to create new transit tunnels for the Chicago Airport.

Boring Company Wins Bid to Build Transit Tunnels at Chicago Airport

According to Boring Company, it will be creating underground transit tunnels that connect the O’Hare Airport to Block 37 of Downtown Chicago. The transit system will travel to Terminals 1, 2 and 3 at the airport.

Boring Company says that the system will rely on electric skates that can travel at speeds of up to 150 mph. These electric skates are modified versions of Tesla Inc’s (NASDAQ:TSLA) Model X frame.

The electric skates will travel through a loop to go back and forth between the airport and Downtown Chicago. Due to the system being underground, it will have much quicker transit times. The Boring Company says trips will only take about 12 minutes.

When it comes to costs, the Boring Company is expecting it to be cheaper than taxis and ride-sharing service. However, it will still be more expensive than the Blue Line. Passengers also won’t have to worry about weather due to the system being underground.

One advantage will obviously be the speed of the electric skates, but another is convenience. These vehicles can fit eight to 16 passengers, luggage, offer Wi-Fi, as well as climate control. They are also all electric, which means zero emissions.

The Boring Company says that its goal is to have electric skates running as frequently as every 30 seconds. It also is planning to have the service running 20 hours a day every day of the week.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/06/boring-company-building-chicago-airport-tunnels/.

©2019 InvestorPlace Media, LLC