Key Statistics
About The Boring Company
The Boring Company was born from a tweet. Sitting in Los Angeles traffic in 2016, Elon Musk posted: 'Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging.' He wasn't joking. He incorporated the company that year and started digging a test tunnel beneath the SpaceX parking lot in Hawthorne, California.
The company's premise is that tunneling is too slow and too expensive, which is why cities don't have vast underground transport networks. The Boring Company aims to cut tunnel costs by a factor of 10 — using faster machines, smaller tunnel diameters, and electric vehicles (standard Tesla Model X and 3 cars) instead of traditional subway trains. The result is a point-to-point Loop system that moves passengers underground at up to 155 mph.
Its flagship project, the Las Vegas Loop, ferries passengers between the Las Vegas Convention Center and surrounding hotels. The Loop has carried over five million passengers since opening in 2021 and is still expanding — with 93 stations planned across the Vegas Strip. Projects in Fort Lauderdale and San Jose have also been announced, and the company's long-term ambition is a cross-US underground transit network.
Company History
Musk tweets about traffic; The Boring Company incorporated
Test tunnel begins under SpaceX campus in Hawthorne, CA
Demo tunnel opens; Elon gives press first rides in Tesla vehicles on electric sleds
Wins Las Vegas LVCC Loop contract — first commercial project
Las Vegas Convention Center Loop opens to the public
Raises $675M at a $5.675B valuation
Loop expansion to Vegas Strip hotels approved by city council
Carries its 5-millionth passenger in the Las Vegas Loop
Fort Lauderdale and San Jose contracts announced
Fast Facts
The Boring Company's original side business included branded flamethrowers — it sold 20,000 at $500 each in just 4 days.
Traditional tunneling costs roughly $1 billion per mile; The Boring Company targets $10 million per mile.
Las Vegas Loop vehicles are standard Tesla Model X and Model 3 cars — not custom-built transit vehicles.
Elon proposed a Chicago-O'Hare express loop that would cut travel time from 45 minutes to 12 minutes. The project was halted by a new mayor in 2019.
The name 'The Boring Company' is a deliberate pun — it refers to the drilling process and Musk's dry acknowledgment that building tunnels is, literally, boring work.
The Boring Company is one of Elon Musk's major holdings.
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