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BERKELEY, California (Reuters) - Elon Musk's tunneling enterprise, Boring Company, has submitted a bid to build an underground transit system between downtown and the beach in Fort Lauderdale, Florida, the city's mayor said.
"This could be a truly innovative way to reduce traffic congestion," Fort Lauderdale Mayor Dean J. Trantalis tweeted on Tuesday, adding that other firms have 45 days to submit competing proposals.
Terms of the bid were not disclosed, and Boring Company had no immediate comment. The company retweeted the mayor's tweet.
In June, Boring Company opened its first commercial tunnel project in Las Vegas to transport visitors through the city's Convention Center using human-driven Tesla (NASDAQ:TSLA) vehicles.
Boring Company said the 1.7-mile (2.7 kilometer) tunnel reduces "a 45 minute cross-campus walk time to approximately 2 minutes" at the facility.
Musk, who leads electric-car maker Tesla Inc and rocket company SpaceX, launched the Boring Company after complaining on Twitter in December 2016 that L.A.’s traffic was “driving me nuts,” promising to “build a boring machine and just start digging.”
In February, Miami Mayor Francis Suarez said that Musk had told him a local tunnel project, previously priced at $1 billion, could be done for closer to $30 million in six months.
By Senad Karaahmetovic Shares of Snap (NYSE:SNAP) are down almost 30% in premarket Tuesday after the social media company warned that the deteriorating macroeconomic environment...
(Reuters) - The Russia-Ukraine crisis and soaring energy prices have nearly halved the confidence of European business leaders in the first half of the year and many corporations...
JERUSALEM (Reuters) -Bezeq Israel Telecom reported a rise in first-quarter net profit, as its Pelephone mobile phone service and Yes satellite TV unit both drew more subscribers....
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