Elon Musk's Boring Co. lands its first paying customer, a $48.6 million contract in Las Vegas

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

The board of the Las Vegas Visitors and Convention Authority voted Wednesday to approve a $48.6 million contract with Musk's tunneling company.

The loop would move people across 200 acres of conference space with two tunnels for vehicles and three stations, according to the contract.

Las Vegas has other mass transit systems, including a monorail that travels along much of the Strip. But the company that operates the monorail went into bankruptcy in 2010, in part, because of low ticket sales. An efficient, high-speed people mover at the convention center might attract even more visitors. Proposals call for an underground loop that connects the entire Las Vegas Strip, McCarren International Airport, the new Raiders stadium and potentially even a route from Los Angeles to Las Vegas.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Can TSLA store inventory underground?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk rewrites fast-moving Tesla cash storyThe electric-car maker’s CEO is mandating “hardcore” cost controls, admitting Tesla could burn $2.4 bln of new capital in 10 months. That puts growth plans in question. It also seems to contradict earlier rosier statements. Investors and watchdogs should have a few questions.
Source: Breakingviews - 🏆 470. / 51 Read more »

Read the email Elon Musk sent to Tesla employees calling for 'hardcore' control of expensesThe memo says that $2 billion in fresh funding would only cover 10 months of business at the company's first quarter burn rate. Elon dropping the hammer. 🤔 10 months my ass This is crazy elonmusk and you know it. You have to confront more strategic choices, or else the Tesla Board or administrators will (& should) sell you out!
Source: CNBC - 🏆 12. / 72 Read more »

Musk to review all of Tesla's expenses in new cost cutting planTesla Inc Chief Executive Officer Elon Musk told employees on Thursday that he w... 1. Sending cars into space. Just file already and save the company. Interest expense... RampCapitalLLC
Source: Reuters - 🏆 2. / 97 Read more »

Autonomous vehicle pioneer doubles down on technology Tesla CEO Elon Musk calls 'freaking stupid'A pioneer in autonomous driving is doubling down on a self-driving technology called lidar that uses sensors to navigate through traffic, instead of cameras, just a few weeks after Tesla CEO Elon Musk called the technology 'freaking stupid.' A $2b company picking up a $50m company is in no way 'doubling down'. Hedging, perhaps.
Source: CNBC - 🏆 12. / 72 Read more »

Tesla deliveries set to top record in second quarter: Musk emailTesla shares up after Reuters confirms authenticity of an email circulated by CEO ElonMusk that claims the company produced 900 Model 3 cars per day this week So since he can't tweet things like this out anymore to save the stock price, it's internal emails that are leaked? Ironic...wonder what jimcramer thinks elonmusk ChrisDungeon elonmusk Pathetic pump
Source: Reuters - 🏆 2. / 97 Read more »

Why Tesla is Not a Car Company and What You Can Learn From Elon MuskWhen I was in business school, I learned that most companies were often not in the “business” they appeared to be. It is indeed comfortable to categorize a company’s business by its industry: transportation, financial services, manufacturing...etc. Sina_Vasighi _brohammad 🤔🤔🤔 Spot on!👍
Source: Forbes - 🏆 394. / 53 Read more »

‘Dark clouds over Fremont’: Tesla enters survival mode as stock price dropsElon Musk’s growth story is looking more like a fable as Tesla Inc. enters survival mode. Potential sales to China could be cut by half due to trade war. The overall auto market in China already is seeing a sales decline for the first time in a generation. The auto market in the U.S. is softening as well. winning Dude sells flame throwers to sycophants and boring holes to dumber cities. Check his house tho... Tesla will not be around much longer
Source: latimes - 🏆 11. / 82 Read more »

Elon Musk awards $10 million prize to 2 startups replacing teachers with techThe $10 million prize money was awarded for the XPrize for Global Learning. Elon Musk is a benefactor in this. Lol wtf elonmusk is super great! I love that he sees and cultivates opportunities for advancement in education because that’s the future of the kids and the world. He’s super geeky and that’s what makes him great in what he does. That is just sick and stupid. Tech is suppose to help humas and never replace them.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Nothing Elon Musk has done has stopped the bleeding at Tesla — and things look like they're going to get worseTesla is doing everything it can to stop bleeding, but right now Wall Street couldn't care less. The next Enron... RepSarbanes and Oxley had better get their pens ready again! Maybe if it goes low enough he can buy it and take it private. You know. It’s seems like the market still wants to buy Tesla’s products. Keep it up out there. At least you’re building something....elonmusk
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tesla shares tumble on Musk’s call for ‘hardcore’ review and Autopilot crash concernsTesla Inc. shares sank after Elon Musk called for a review of all the electric-car maker’s expenses. holy smokes Elon, you mean you have to make more than you spend? Where is the solar car? Solar
Source: latimes - 🏆 11. / 82 Read more »