The Boring Company is an American infrastructure and tunnel construction services company founded by Elon Musk. Its current and proposed projects are designed for loop intra-city transit systems although the company has stated that the Hawthorne test tunnel can support Hyperloop R&D. TBC has completed one tunnel for testing Hyperloop and Loop in Los Angeles County, and it has another tunnel under construction in Las Vegas for Loop. The company was initially formed as a subsidiary of SpaceX before becoming an independent company in 2018.
About The Boring Company in brief
The Boring Company is an American infrastructure and tunnel construction services company founded by Elon Musk. Its current and proposed projects are designed for loop intra-city transit systems although the company has stated that the Hawthorne test tunnel can support Hyperloop R&D. TBC has completed one tunnel for testing Hyperloop and Loop in Los Angeles County, and it has another tunnel under construction in Las Vegas for Loop. Two further tunnels are pending permitting, with one connecting Washington D. C. to Baltimore designed for both Loop and Hyperloop, and another tunnel connecting Dodger Stadium to the rest of Los Angeles with Loop. The company was initially formed as a subsidiary of SpaceX before becoming an independent company in 2018. As of December 2018, 90% of the equity was owned by Musk, with 6% held by SpaceX in return for the use of SpaceX resources during the initial startup of the company. Outside investments during 2019 have changed the equity split. In July 2019, The Boring company authorized the first external investment, selling 120 million USD in stock to a number of capital firms, after raising US$113 million in non-outside capital during 2018. In early 2018, the company spun out from SpaceX and into a separate corporate entity. In March 2018, Elon Musk announced that the company would readjust its plan to prioritize pedestrians and cyclists over cars; cars would only be considered for transport after all other \”personalized mass transit needs\” were met.
In October, Musk revealed the second TBM is named Line-storm, named after the Robert Frost poem “A Line-Storm Song”. In May 2017, Musk said the first route created will run from LAX to Culver City, then to Santa Monica, and end in Westwood. Musk claims the tunnel trip will take five minutes, compared to above ground driving which takes 45 minutes in normal traffic. These trips were planned to be implemented by placing a car on an electric sled and traveling at 120 miles per hour through tunnels. At the same time as the Los Angeles tunnel system was announced, a different project involving a Hyperloop running underground from New York City to Washington, D.C. was announced. Musk claimed it would take 29 minutes to travel from one city center to the other. In December 2016, Musk announced the first public 1-mile-long test tunnel in Hawthorne, California. The name of the TBM was revealed as Godot in May 2017. In November 2017, the firm filed a permitting application with Los Angeles government regulators to build a tunnel from Hawthorne along Interstate 405 to Westwood, and in July 2017, a video was uploaded depicting a successful test of a prototype car elevator. In January 2018, Musk announced that the first tunnel would be built from Culver City to Santa Monica, then Culver City to Westwood. In August 2018, he said the tunnel would run from Los Angeles to Santa Monica, then to Cleveland.
You want to know more about The Boring Company?
This page is based on the article The Boring Company published in Wikipedia (as of Jan. 10, 2021) and was automatically summarized using artificial intelligence.
