Musk's Boring Company Gets Approval To Expand Vegas Underground Loop Using Tesla Vehicles

Benzinga EV Insights
·2 min read

  • What's Happening: Report finds the Musk's The Boring Company's Las Vegas loop will expand and use Tesla vehichles for transport.

  • Why It matters: Elon Musk is smartly leveraging his family of companies, creating an opportunity for many to experience riding in a Tesla for the first time.

  • Get stocks with long term breakout potential based on trade signals.

Elon Musk is the founder and CEO of several companies, one of those being The Boring Company. The goal of this company is to ease traffic congestion by boring underground tunnels, giving faster, direct access to key places, while taking traffic off the streets at the same time.

A report by Electrek has found the Las Vegas loop, one of the first, will be expanded and will be using Tesla Inc (NASDAQ: TSLA) vehicles to transport passengers underground at high speeds.

The company is aiming for Tesla's vehicles to eventually autonomously drive passengers from start to finish at high speeds. Because the cars are electric, there are no emissions, and it makes them safer for underground driving.

Benzinga's Take: Musk using one company to purchase assets from another is a great move. Although it will most likely only be a small number of vehicles, it will also let people experience a Tesla that may never have experienced one before.

Tesla is also using technology from one of Musk's other companies, SpaceX, for the cold-rolled steel body of the Tesla Cybertruck.

Photo courtesy of The Boring Company

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