Boring company’s ambitious plans range from Las Vegas to the global transit revolution.
While Elon Musk’s projects such as Tesla, SpaceX, and now renamed Twitter continue to dominate the headlines, one of his businesses, The Boring Company, has made significant progress behind the scenes. With new technological updates and expansion plans, Boring Company is ready to change the way we perceive urban transit. Let’s dive into what Boring Company was before in recent months.
It is distributed in Las Vegas.
In a promising development for The Boring Company, their bid to expand the Las Vegas tunnel network received the unanimous approval of the local city council. This green light allows them to proceed with their plan to build an underground network covering 68 miles of tunnels and 81 stations. Although the initial focus is on downtown Las Vegas, much of the expansion will connect neighborhoods further, turning it into a comprehensive transit system for city residents rather than just a tourist attraction.
The existing Vegas Loop route, which connects three stations around the Las Vegas convention center and an offshoot of the Resorts World, has been operating for more than two years, successfully transporting more than 1.2 million passengers. As additional connections to the luxurious Encore and the Westgate are being built, the Las Vegas expansion is well underway. In the future it is planned to add back tunnels for simultaneous trips between the conference center and resorts.
Bold predictions for the future of a boring company.
Investor Warren Redlick believes that Boring Company has the potential to reach a $1 trillion valuation by 2030 and could go public by 2028. He expects the company to expand its tunnel network to more than 10,000 miles over the next decade and exceed 100,000 miles over the next five years.
Redlik’s optimism stems from advances in Proof Rock Tunnel Boring Machine, which is capable of digging a 1-mile-per-week tunnel, with a third-generation prototype machine targeting a remarkable 7-mile-per-day speed.
Elon Musk echoed Redlick’s predictions, pointing out that such technological feats were indeed possible. Musk stressed that the main problem is obtaining permits, as construction is increasingly hindered by bureaucratic obstacles in North America and Europe. These obstacles could delay ambitious tunnel projects linking continents.
Innovation in Tunnel Construction in Texas.
Among Boring Company’s current developments is testing the state-of-the-art Proof Rock 3 tunnel drilling machine in Texas. Their goal is full continuous production with a sub-24-hour launch time, halving downtime compared to Proof Rock 2. Continuous mining will greatly increase the speed of tunnel construction.
Read more / Original news source: https://manipurhub.com/update-2024-boring-company-here-373/