A man walks on the railroad of a metro line extension under construction near Nossa Senhora da Paz station in Rio de Janeiro, Brazil, February 24, 2016. The extension, which will connect Rio de Janeiro's Olympic Park in Barra de Tijuca with the rest of the city, is at risk of not being finished before the Games start in August, if a delayed development bank loan is not disbursed, two senior government sources told Reuters on Monday. REUTERS/Ricardo Moraes - RTX28DN1

Elon Musk’s Boring Company won a major contract to build a rapid transit system in Chicago

12 minutes

Chicago chose Elon Musk’s Boring Company among four bidders to build a rapid transit system linking its central business district and its international airport.

Published   |  Photo by Reuters/Ricardo Moraes
A man walks on the railroad of a metro line extension under construction near Nossa Senhora da Paz station in Rio de Janeiro, Brazil, February 24, 2016. The extension, which will connect Rio de Janeiro's Olympic Park in Barra de Tijuca with the rest of the city, is at risk of not being finished before the Games start in August, if a delayed development bank loan is not disbursed, two senior government sources told Reuters on Monday. REUTERS/Ricardo Moraes - RTX28DN1
12 minutes

The vehicles, running at up to 150 mph (240 km/h), will make the 17 mi (27 km) journey in just 12 minutes, the company said, a third of the current time it takes to reach the airport.

A man walks on the railroad of a metro line extension under construction near Nossa Senhora da Paz station in Rio de Janeiro, Brazil, February 24, 2016. The extension, which will connect Rio de Janeiro's Olympic Park in Barra de Tijuca with the rest of the city, is at risk of not being finished before the Games start in August, if a delayed development bank loan is not disbursed, two senior government sources told Reuters on Monday. REUTERS/Ricardo Moraes - RTX28DN1
12 minutes

The Boring Company will completely fund the project. In return, Musk’s firm will keep any revenue generated by the system, from tickets to advertising to branding.

A man walks on the railroad of a metro line extension under construction near Nossa Senhora da Paz station in Rio de Janeiro, Brazil, February 24, 2016. The extension, which will connect Rio de Janeiro's Olympic Park in Barra de Tijuca with the rest of the city, is at risk of not being finished before the Games start in August, if a delayed development bank loan is not disbursed, two senior government sources told Reuters on Monday. REUTERS/Ricardo Moraes - RTX28DN1
12 minutes

The deal comes as the company faces regulatory obstacles and public pressure in Los Angeles, and questions from experts over the feasibility of its technology.

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