Planetizen - Urban Planning News, Jobs, and Education

The Boring Company Gets Paid

Las Vegas is the first city to pay for the services of Elon Musk's Boring Company.
May 20, 2019, 8am PDT | James Brasuell | @CasualBrasuell
Share Tweet LinkedIn Email Comments
Aneese

"Las Vegas is set to give Elon Musk’s Boring Company its first payout: a $44m contract to build a high-speed underground transit system serving an expanded convention center," reports Mark Harris.

"According to the proposed contract between Musk’s company and the city, which was made public ahead of a vote on Wednesday by board members of the Las Vegas Convention and Visitors Authority (LVCVA), The Boring Company would build two 0.8-mile tunnels and three underground stations at the Las Vegas Convention Center…"

"The project is a gamble on technology that has yet to be demonstrated at a commercial scale, and on a company whose founder has a reputation for missing deadlines," adds Harris.

Las vegas is hedging its bet on The Boring Company by withholding more than two-thirds of payments until construction is complete.

In December, The Boring Company debuted its first tunnel, built in Southern California at the company's headquarters in Hawthorne, to mixed reviews.

Full Story:
Published on Saturday, May 18, 2019 in The Guardian
Share Tweet LinkedIn Email