Tesla CEO Elon Musk announced on Monday that The Boring Company, a modern urban transportation venture, will aim to build a high-speed hyperloop in the coming years.
The Boring Company, a project that plans to build underground highways to relieve traffic congestion, raised $675 million in its Series C round last week, raising its valuation to $5.7 billion.
“In the coming years, Boring Co will attempt to build a working Hyperloop,” Musk said in a tweet.
“From a known physics standpoint, this is the fastest possible way of getting from one city centre to another for distances less than 2,000 miles. Starship is faster for longer journeys,” he added.
Musk established The Boring Company in December of 2016.
It received preliminary approval in October of last year to construct a transportation system that would shuttle passengers in Tesla vehicles through a network of tunnels along a 1.7-mile section beneath Las Vegas.
According to the company, operations on the updated Vegas loop will begin this year.
“Underground tunnels are immune to surface weather conditions (subways are a good example), so it wouldn’t matter to Hyperloop if a hurricane was raging on the surface. You wouldn’t even notice,” Musk further said.
