Elon Musk will soon launch a China unit for his underground tunneling enterprise, The Boring Company, the billionaire entrepreneur said on Twitter, Reuters reported.
One of Musk’s followers tweeted that Tesla chief executive officer would attend the World Artificial Intelligence Conference of 2019 in Shanghai later this month. Musk replied on the social media platform that he “will also be launching The Boring Company China on this trip.”
Musk started the Boring Company to build underground transport tunnels for hyperloop transportation systems, which he says would be far faster than current high-speed trains and use electromagnetic propulsion.
The company won its first commercial contract in May to build a mile-long project to shuttle visitors around the Las Vegas Convention Center. It also recently raised $120 million in its first outside investment from chief investors 8VC, Vy Capital, Craft Ventures, Valor Capital and DFJ, Bloomberg adds.
The Boring Company has also built a test tunnel near its headquarters in Hawthorne, California. A hoped-for tunnel in Los Angeles was scuttled after opposition from neighborhood groups. In Chicago, a proposed tunnel’s future is in doubt due to the departure of its biggest supporter, former Mayor Rahm Emanuel. Another potential project connecting Washington D.C. and Baltimore is in the environmental review process.
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