Elon Musk to launch Boring Company in China during visit this month | Fin24
 
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Elon Musk to launch Boring Company in China during visit this month

Aug 05 2019 06:00
Melissa Cheok

The Boring Company will launch in China later this month, founder Elon Musk said on Twitter late Friday.

Musk made the announcement in response to a Twitter user’s post promoting his upcoming attendance at an artificial intelligence conference in Shanghai between August 29 and August 31.

The company, which develops tunnel-based transportation systems, 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 $120m in its first outside investment from chief investors 8VC, Vy Capital, Craft Ventures, Valor Capital and DFJ. Boring Co. has also built a test tunnel near its headquarters in Hawthorne, California.

A hoped-for tunnel in Los Angeles was scuttled after opposition from neighbourhood 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 DC and Baltimore is in the environmental review process.

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