Dive Brief:
- Clark County, Nevada, commissioners have approved plans for The Boring Co.'s 15-mile-long transit system, setting the stage for the permitting process, according to an announcement posted on Twitter.
- The plans involve 51 stops — at locations like Allegiant Stadium and University of Nevada, Las Vegas — where Tesla vehicles would transport passengers directly to their destinations, not pausing at every subsequent station like a bus or other people mover might.
- The Boring Co. next needs to get approval from the city of Las Vegas for the portion running underneath the city, which could happen as early as next month, a spokesperson told the Las Vegas Review-Journal.
Dive Insight:
The Boring Co.'s first commercial project was in Las Vegas, constructing the roughly 1-mile-long loop at the Las Vegas Convention Center for $52.5 million. This system, which was completed in February 2020, will connect to the proposed loop.
No price for the larger loop has been disclosed, and the entire project will be privately funded by The Boring Co., which is owned by entrepreneur Elon Musk. Before it can build out stations, the company will need to get separate permits for each of the stops along the strip. The construction will be done in phases, according to company president Steve Davis. Once a station is complete, it will come online.
Early plans indicate building out as many as 10 stations within the first six months of construction beginning. After that, The Boring Co. would add 15 to 20 stations each year until the project is complete.
When finished, the project is expected to transport 57,000 passengers an hour, Davis told the Review-Journal. A 3.6-mile ride from the Las Vegas Convention Center to Allegiant Stadium would take roughly four minutes and cost $6.
The Boring Co. has three years to complete construction. Thereafter, the company will need to pay the county a quarterly franchise fee based on revenue.
