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Elon Musk speaks near a Falcon 9 rocket during his announcement that Japanese billionaire Yusaku Maezawa will be the first private passenger who will fly around the Moon aboard the SpaceX BFR launch vehicle, at the SpaceX headquarters and rocket factory on September 17, 2018 in Hawthorne, California. - Japanese billionaire businessman, online fashion tycoon and art collector Yusaku Maezawa was revealed as the first tourist who will fly on a SpaceX rocket around the Moon.
- Tesla and SpaceX CEO Elon Musk announced in a Saturday tweet that he would be launching The Boring Company China while on a Shanghai trip to the World Artificial Intelligence Conference in late August.
- Musk founded The Boring Company, an infrastructure and tunneling construction company, in 2016 in part because of his frustrations with Los Angeles traffic.
- The Boring Company has embarked on contracts and projects in Los Angeles, Chicago, Maryland, and Las Vegas, but has yet to complete any tunnels for consumer or commerical use.
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Tesla and SpaceX CEO Elon Musk announced via a tweet on Saturday that he would be launching The Boring Company China, the first
In another tweet, the founder and CEO of The Boring Company confirmed that it would embark on building underwater tunnels, in addition to planned projects in Los Angeles, Chicago, Maryland, and Las Vegas.
Musk created The Boring Company in 2016 as a subsidiary of SpaceX, his private aerospace manufacturing and space transportation company. In 2018, The Boring Company became a separate corporate entity, of which Musk owns 90 percent equity and SpaceX owns 6 percent equity.
Read more: Elon Musk's Boring Company is raising $120 million in its first outside funding round
Last year, the infrastructure company raised $112.5 million, 90 percent of which came from Musk, who says he spends between 2 and 3 percent of his time on The Boring Company.
While Musk's tunneling construction venture has yet to complete any tunnels for commercial or consumer use, it is aiming to complete its first project, a tunnel connecting the two ends of the Las Vegas Convention Center, by the end of 2019. The company built a 2-mile test tunnel at SpaceX headquarters in Hawthorne, California, and has projects in mind to build "hyperloop" transportation tunnels in Chicago and between Baltimore and Washington, D.C.
Musk was partly inspired by traffic in Los Angeles in creating The Boring Company, and initially had plans to build tunnels in LA before opposition from local residents caused the project to be put on hold indefinitely.
The CEO is set to make an appearance at the World Artificial Intelligence Conference on August 29 to August 31, which will focus on artificial intelligence topics that include industrial development and technological innovation, along with applications for AI such as education, medical care, urban management, industry, and finance.
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Will also be launching The Boring Company China on this trip
- E (@elonmusk) August 3, 2019