The city of Chicago has selected Elon Musk’s Boring Company to build and run a high-speed transit line between O’Hare International Airport and the city center, Mayor Rahm Emanuel said on June 13.
Under the project, the trip from the airport should take about 12 minutes. The company plans to transport passengers using electric vehicles via new twin underground tunnels. The project will be fully funded by the company, without attracting taxpayers’ penny. Under the contract, Mask will receive all proceeds from transit fees, advertising and selling stuff during the trip. Sources say that the whole project should cost less than $ 1 billion.
“If you look at the history of Chicago … every time we’ve been an innovator in transportation, we have seized the future,” Emanuel told the Chicago Tribune on Wednesday.
The city will soon begin negotiations on a one-on-one contract with The Boring Company, after which the deal will be submitted to the city council. The city hall provided some details about what is expected of The Boring Company.
Each vehicle will carry up to 16 passengers and their luggage, and will depart every 30 seconds from O’Hare and from Block 37 in downtown Chicago. The Boring Company plans to charge a relatively low fare. This premium service should cost less than the current taxi service and car hire. The company plans to use the unfinished underground transit station on Block 37 and create a new station at O’Hare. A specific alignment will be finalized during contract negotiations.
Chicago selected the Boring Company over O’Hare Xpress, a joint venture from Meridiam, Antarctica Capital, and JLC Infrastructure, an infrastructure fund backed by former basketball star Earvin “Magic” Johnson.