Loop aims to shuttle passengers between downtown Chicago and O'Hare International Airport in 12 minutes, at speeds of more than 100 mph, with an estimated trip cost of $20 to $25 per ride, the Chicago Tribune reported. As such, Musk's Boring Company says that a journey from Block 37 in downtown Chicago to O'Hare will be three to four times faster than existing transport systems, at around 12 minutes for the roughly 15 mile (24 km) journey.
While many details of the Chicago project are not yet available, the plan resembles one that Musk has put forth for Los Angeles, where an 11-mile tunnel could shoot passengers between the city's downtown and the Los Angeles International Airport in around eight minutes. That should get passengers to the airport in about 12 minutes-still a significant improvement on current options, which often take about 40 minutes by train or vehicle. Experts have raised concerns over the financial viability of Loop transportation systems, as well as potential environmental and legal challenges.
Elon Musk's Boring Company is "a few months" from offering free rides beneath L.A. And Boring's technology is good enough that officials in Los Angeles and Baltimore recently have signed off on initial projects that could lead to much bigger efforts, such as a vacuum tube "hyperloop" from Baltimore to Washington, D.C., and eventually NY.
According to the Boring Company, the skates would have Wi-Fi and be large enough to hold passengers and cargo. The company will now begin negotiations with the city of Chicago on a final deal for the project. One thing is clear: This is definitely a big win for The Boring Company, and it's a chance for Musk to prove that he can help major cities cut back on their traffic and transportation problems. "He's proven something", Emanuel said, according to the newspaper.
A success in Chicago would give Boring Co. considerable credibility as it tries to move ahead on other projects, including service within Los Angeles and a planned system between Washington, D.C., and New York City. None got very far - because of the cost, the shortage of money for other needed transit projects, and basic logistics: the Blue Line has too many stations and sharp curves and the like to provide truly fast service.
The company said it will fund the project in its entirety, and that it plans to collect ticket and advertising revenue.
Musk announced last month that it had almost finished building its first stretch of tunnel there.