News

The New York Post: Fort Lauderdale approves proposal from Elon Musk’s company for beach tunnel

0

Elon Musk is boring his way to the beach in Fort Lauderdale.

Local lawmakers accepted a proposal from Musk’s Boring Co. on Tuesday to build an underground transit system that would whisk people from the Florida city’s downtown area to the beach in Teslas.

“Other firms have 45 days to submit competing proposals. This could be a truly innovative way to reduce traffic congestion,” Mayor Dean Trantalis wrote on Twitter.

The project is named “The Las Olas Loop,” after the city’s beach-bound boulevard by the same name.

The Boring Co. — founded by Tesla
TSLA,
-2.26%

and SpaceX leader Musk — built a similar underground loop in Las Vegas that transports passengers in Teslas between three stations in two one-way tunnels.

Fort Lauderdale would be the first city on the East Coast – and only the second city in the world – to benefit from The Boring Co.’s technology,” local officials said in a press release last week.

“Unlike a subway system, the number of cars can vary based on demand and passengers can go directly to their destination without multiple stops in between.”

Fort Lauderdale did not release the specifics of the plan, citing the ongoing bidding process.

It’s unclear if the Teslas will be self-driving under the Florida plan. In Las Vegas, drivers are currently being used, but The Boring Co. is working with local officials on an “expected transition to autonomous vehicle operations,” Tech Crunch reported.

Under the Florida proposal, passengers would be charged between $5 and $8 for a Tesla ride to the beach, according to CNN. Musk is confident the project can be done in six months for $30 million, the outlet reported.

The Las Vegas Convention Center Loop cost $53 million to build, according to Travel Market Report. It was completed in about a year, Fort Lauderdale officials noted.

Florida only has two tunnels statewide, as its naturally holey limestone rock is hard to bore through, experts told the network.

This report originally appeared on NYPost.com.

The Moneyist: I paid off my fiancé’s $40,000 truck. He wants me to refinance my home with a VA loan — and only his name on the deed

Previous article

NewsWatch: Bond yields and tech stocks echo ‘extreme anomalies’ of dot-com boom, says Morgan Stanley

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News