In the United States, Boring Company runs the Vegas Loop in Las Vegas, Nevada, which began transporting passengers in 2021.
Tesla Inc. founder Elon Musk speaks at the unveiling event by 'The Boring Company' for the test tunnel of a proposed underground transportation network across Los Angeles County, in Hawthorne, California, U.S. December 18, 2018. (Reuters/Robin Beck)
Elon Musk's tunnel construction startup, the Boring Company, is in talks to raise new funding that would value it at about US$20 billion, the Wall Street Journal said on Friday, citing people familiar with the talks.Musk, whose business interests include Tesla, SpaceX and Neuralink, founded the company to develop tunneling technology and transport systems to carry passenger pods through underground, low-pressure tubes between cities.
The company is in talks to raise about $4 billion, WSJ said, adding that the funding round had not yet closed, and terms could still change.
Reuters could not immediately verify the report. The Boring Company could not immediately be reached for comment outside regular business hours.
