The Boring Company was first introduced via a tweet, much like many of Elon Musk's most contentious concepts. Musk wrote, "Traffic is driving me nuts," on December 17, 2016, probably while sitting in a Los Angeles rush hour. I'm going to construct a tunnel-boring device and just begin digging. Musk might have stopped there if he weren't the CEO of Tesla, but a few minutes later, it appeared that he had given the concept some serious attention."It shall be called 'The Boring Company'. I am actually going to do this,'" Musk said in a series of tweets
Elon Musk created The Boring Company in 2016, which provides infrastructure services and builds tunnels. The company's goal is to develop cutting-edge tunneling technology that will change urban infrastructure and transportation.
The Boring Company's main goal is to build tunnels for the "Loop" and "Hyperloop" high-speed transit networks. The Loop concept calls for the construction of tunnels below earth through which fast-moving autonomous electric vehicles or pods can convey people or goods. The pods would move along on electric skates or platforms, which would relieve surface traffic congestion.
On the other hand, the Hyperloop concept imagines a high-speed transportation system in which pods move through low-pressure tubes at close to supersonic rates of speed. The goal of this idea is to drastically cut travel times by offering extremely quick, energy-efficient transportation over huge distances.
In order to cut costs and boost productivity, The Boring Company uses cutting-edge tunnel boring machines (TBMs) and other tunneling methods. To speed up construction, they created the "Prufrock" TBM, which is smaller, quicker, and more affordable.The Boring Company has suggested employing their tunneling technology for various applications besides transportation networks, such as utility infrastructure, subterranean freight transportation, and even building underground housing options.
The Tesla CEO made the first test dig announcement in January 2017, but not before going back to Twitter to create the company's catchphrase: "Boring, it's what we do". One month later, in February 2017, The Boring Company started construction while excavating a test hole on the SpaceX property. On a Friday afternoon, Musk reportedly stated, "Let's get started today and see what's the biggest hole we can dig between now and Sunday afternoon, running 24 hours a day." This is when the test dig apparently got underway.
Five product categories are available from The Boring Company: Loop, Utility, Freight, Pedestrian, and Bare. The company's underground public transit system is known as The Loop and is the hub of the tunneling system. It has kilometers of tunnels and stations, and is made to get rid of heavy traffic.
Utility stores utility lines using the tunneling technology. Its layout minimizes or completely avoids surface damage and enables simple utility access. Tunnels are used to move cargo, minimizing reliance on rail and other modes of cargo delivery.
The pedestrian product line includes tunnels that people on foot can use to get to various locations, including the tunnel leading to the Las Vegas Convention Center. An excellent substitute for above-ground transportation are these pedestrian tunnels.
As its name implies, Bare is a tunnel that is completely empty. This form of solution, known as "build to suit," enables tunnels to be set up whatever the customer desires.
On December 18, 2018, in Hawthorne, California, The Boring Company unveiled the first segment of an underground tunnel that was completely finished. Musk stated that pods carrying 16 passengers at once would race down the tunnel at up to 150 mph when the idea was first conceived.Even at the test speed of about 50 mph, the first riders complained that the tracking wheels made rides rather rough. At a construction cost of $10 million, The Boring Company finished its first 1.14-mile tunnel in 2018.
The business has signed contracts to build public transit networks in Chicago and Maryland, and its first tunnel will now clear the way for that work. A competition to develop a high-speed transit network from downtown Chicago to O'Hare Airport was announced by the City of Chicago in late November 2017.
The Las Vegas Convention Center (LVCC) Loop, a 1.7-mile, two-tunnel system that connects the LVCC New Exhibit Hall with its original campus, was finished by The Boring Company in April 2021. The LVCC Loop was created to shorten commutes and ease traffic.The business also finished the 1.14-mile R&D tunnel and 0.8-mile Hyperloop Test Track in Hawthorne, California, in 2016 and 2018, respectively.
The 29-mile-long Vegas Loop is now being built, and it will link the LVCC to 50 additional stations around the Las Vegas Strip, in Downtown Las Vegas, the Las Vegas Airport, and other places.
Although The Boring Company lacks publicly available financial information and operates independently as a private company, in April 2022 it was estimated that the company was valued at $5.75 billion following the receipt of $675 million in a Series C funding round.