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Boring Co. Vegas Loop expansion looms as LV monorail files for bankruptcy

Credit: Mark Damon/Las Vegas News Bureau

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The Boring Company, an entity owned by Elon Musk, is poised to have its Las Vegas Convention Center loop expanded to more portions of the Sin City after the area’s monorail filed for bankruptcy. The monorail is responsible for transporting residents and tourists around Las Vegas from different points of interest, but it has not been operational since March 18th.

Ever since the COVID-19 pandemic began in early 2020, public transit systems have experienced a large-scale dropoff in ridership. The organization is also facing increased costs in sanitizing and cleaning its buses and trains. Since large gatherings are prohibited in many areas, some public transit options are not available, which has hit the Las Vegas monorail hard in a financial sense.

As a part of the bankruptcy filing, the Las Vegas Convention and Visitors Authority has agreed to purchase the monorail for $24.3 million, according to KTVS News.

The monorail is 3.9 miles long and operated for the first time in 2004. It carries five million riders a year, the LVCVA said. However, it is missing significant points of interest, like McCarran Airport, which has attributed to its mediocre success, Vice President of the Monorail Society, Keith Walls, said.

The LVCVA plans to continue to operate the monorail if the deal goes through, but it could mean the Boring Company project is set for a major expansion.

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The purchase of the monorail by the LVCVA would remove restrictions on where the Boring Company loop could operate. As of right now, there are restrictions as the monorail has non-compete rights, which limit the areas where the Loop can operate.

As of right now, the Boring Company tunnel, known as the Las Vegas Convention Center loop, is under construction, and operation is “only a few months away,” according to Musk. The Loop is expected to be operational in January 2021.

Elon Musk’s Las Vegas Boring Company tunnels ‘only a few months away’ from operation

Interestingly enough, the LVCVA was the entity that approved the contract and accepted the Boring Company’s $52.5 million bid for an underground loop that will move around 4,000 people per hour. It will also cut down a 15-minute walk into a two-to-three-minute ride.

As of right now, the LVCC loop will transport people from the Convention Center across its massive campus. However, there are plans to extend the Loop onto the Vegas Strip along with other points of interest. These include a majority of notable Vegas hotels and the McCarran Airport at the bottom of the Strip.

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However, the Boring Company’s plans do not stop there. According to the map for the potential expansion, the tunnel could extend to Los Angeles, and a Boring Company tent was spotted at a location between the two cities that hints toward ongoing testing for the massive tunnel.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla analysts are expecting the stock to go Plaid Mode soon

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Credit: Tesla Mania

Tesla (NASDAQ: TSLA) has had a few weeks of overwhelmingly bullish events, and it is inciting several analysts to change their price targets as they expect the stock to potentially go Plaid Mode in the near future.

Over the past week, Tesla has not only posted record deliveries for a single quarter, but it has also rolled out its most robust Full Self-Driving (Supervised) update in a year. The new version is more capable than ever before.

Tesla Full Self-Driving v14.1 first impressions: Robotaxi-like features arrive

However, these are not the only things moving the company’s overall consensus on Wall Street toward a more bullish tone. There are, in fact, several things that Tesla has in the works that are inciting stronger expectations from analysts in New York.

TD Cowen

TD Cowen increased its price target for Tesla shares from $374 to $509 and gave the stock a ‘Buy’ rating, based on several factors.

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Initially, Tesla’s positive deliveries report for Q3 set a bullish tone, which TD Cowen objectively evaluated and recognized as a strong sign. Additionally, the company’s firm stance on ensuring CEO Elon Musk is paid is a positive, as it keeps him with Tesla for more time.

Elon Musk: Trillionaire Tesla pay package is about influence, not wealth

Musk, who achieved each of the tranches on his last pay package, could obtain the elusive title as the world’s first-ever trillionaire, granted he helps Tesla grow considerably over the next decade.

Stifel

Stifel also increased its price target on Tesla from $440 to $483, citing the improvements Tesla made with its Full Self-Driving suite.

The rollout of FSD v14.1 has been a major step forward for the company. Although it’s in its early stages, Musk has said there will be improved versions coming within the next two weeks.

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Stifel raises Tesla price target by 9.8% over FSD, Robotaxi advancements

Analysts at the firm also believe the company has a chance to push an Unsupervised version of FSD by the end of the year, but this seems like it’s out of the question currently.

It broke down the company’s FSD suite as worth $213 per share, while Robotaxi and Optimus had a $140 per share and $29 per share analysis, respectively.

Stifel sees Tesla as a major player not only in the self-driving industry but also in AI as a whole, which is something Musk has truly pushed for this year.

UBS

While many firms believe the company is on its way to doing great things and that stock prices will rise from their current level of roughly $430, other firms see it differently.

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UBS said it still holds its ‘Sell’ rating on Tesla shares, but it did increase its price target from $215 to $247.

It said this week in a note to investors that it adjusted higher because of the positive deliveries and its potential value with AI and autonomy. However, it also remains cautious on the stock, especially considering the risks in Q4, as nobody truly knows how deliveries will stack up.

In the last month, Tesla shares are up 24 percent.

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Tesla lands permission to test Full Self-Driving in new country

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tesla showroom
(Credit: NicklasNilsso14)

Tesla has landed permission to begin testing its Full Self-Driving suite in a new country: Sweden.

Tesla has been working to expand its Full Self-Driving suite across the world. Currently, it is available in seven countries: the United States, Canada, Mexico, Puerto Rico, Australia, New Zealand, and China, where it is referred to as “City Autopilot.”

Capabilities of the Full Self-Driving suite differ in each region based on the approvals given to Tesla by regulatory agencies.

In Europe, Tesla has been attempting for a long time to launch FSD in various countries, but regulatory red tape has been prolonging the company’s ability to launch the suite.

However, Sweden appears to be ready to allow Tesla to test FSD in some passenger and public locations, according to the country’s Transport Agency.

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On X, a Swedish Tesla owner named Alexander Kristensen, says he received direct confirmation from the Transport Agency that Tesla has “received permission to test automated vehicles.”

The full email said:

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“Tesla received permission to test automated vehicles last week. This includes three vehicles and all state highways and expressways in Sweden.”

Tesla has already been working with the Swedish Transport Agency on the first steps of Full Self-Driving’s approval. The company and the Transport Agency spent two weeks assessing data gathered during a Formal Site Assessment Test, or SAT.

Based on the communication from the Transport Agency to Kristensen, it appears the company has passed the SAT and will now be able to perform its own testing within the market.

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This approval seems similar to the approval Tesla received in U.S. states for Robotaxi operation. Nevada and Arizona have both given Tesla approval for Robotaxi testing, but passengers are not allowed in the vehicles quite yet.

Instead, company employees perform the testing, which is likely what will go on in Sweden until the Transport Agency gives the company a green light to roll FSD software out to customers.

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My Tesla did this on FSD (Supervised) v14.1 and the internet went crazy

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My Tesla did something on Full Self-Driving (Supervised) v14.1, and it garnered quite the response from the internet.

I received access to Tesla’s FSD v14.1 on Tuesday night, and by Wednesday, I was already using it and seeing all the progress the company had made from v13.2.9.

Tesla Full Self-Driving v14.1 first impressions: Robotaxi-like features arrive

However, there was one thing that it did during the drive that I shared on our social media accounts, and it really got a lot of interesting reactions from people from all corners of the world.

I’ll give some background about the situation: I was driving on Main Street in Dallastown, PA, and the route was about to take me left onto Pleasant Avenue. It is a tight and usually very congested intersection; Main Street is a popular route for many construction vehicles and even some tractor-trailers.

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It is a pretty tight intersection for full-size trucks and larger passenger vehicles. It is not super tight for my Model Y, but it gets to feel congested at times, including with what happened yesterday.

The light when I approached the intersection was a green yield; there was also a solid green arrow at the beginning of my light cycle, but I had arrived after that had already turned into the green yield. Oncoming traffic had a green light.

My Model Y got out into the middle of the intersection, and the light turned yellow, then red. Most people, including myself, would have probably made the left turn after the light turned red since the car was already out in the intersection.

The Tesla, using FSD v14.1, did not. Instead, it chose to back up to the “Stop Here on Red” line, which is further back due to the tight turn the perpendicular traffic has:

As I mentioned, I would have probably taken the left turn. However, I believe the Tesla did not see the traffic that sat to the left, and because of this, it weighed the turn as a higher probability of an accident than if it were to just back up to the line.

If you look at these two screenshots from when the light was yellow and red, Tesla’s driver visualization does not have any idea what traffic is to the left on Pleasant Avenue:

I believe that, since FSD could not tell what traffic was down to the left, it chose to reverse.

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People had some polarizing opinions on it:

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As far as the legality of the move, it does not seem to be against Pennsylvania law to go through or choose to back up. I have seen many cars do both things over the course of my life of driving in this state, and neither has ever gotten anyone a ticket.

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I think FSD just did what it felt was the safer option here.

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