Boring Company Wins $48.7 Million Las Vegas Tunnel Contract
Elon Musk's Boring Company secures its first commercial contract to build an underground people mover for the Las Vegas Convention Center. The project uses modified Tesla vehicles to transport visitors across the massive 200-acre facility.
Elon Musk's Boring Company lands its first commercial contract, a $48.7 million deal to build an underground people mover at the Las Vegas Convention Center. The project aims to solve the challenge of navigating the newly expanded 200-acre facility, where walking from one end to the other covers about two miles.
The Las Vegas Convention and Visitors Authority approves the contract with strict conditions, withholding over two-thirds of the payment until construction finishes. The funding schedule starts with a $1.2 million outlay in 2019, followed by $15 million in 2020, and a final $32.47 million in 2021 upon completion of specific milestones and ridership goals.
The system features twin tunnels stretching less than a mile, one pedestrian tunnel, and three underground stations with elevator or escalator access. Modified autonomous Tesla vehicles transport passengers between stops at high speeds after a mandatory three-month testing period, with future potential expansion to downtown, the resort corridor, and the airport.