News
The Boring Company’s garage-elevator site takes shape ahead of Dec 18 tunnel opening
The Boring Company continues to make progress on the garage elevator prototype in its Prairie Avenue work site, located roughly at the halfway point of the tunneling startup’s 2-mile test tunnel in Hawthorne, CA. As the days trickle down towards the test tunnel’s unveiling on December 18, The Boring Co. appears to be digging deep in order to ensure that its projects in the area are making good progress.
On the site of the tunneling startup’s garage-elevator prototype, work continued despite last week’s rains. Teslarati photographer Pauline Acalin was in the area last Thursday, and she was able to snap some pictures of workers near the site. Returning to the elevator’s location this Monday, it was evident that work progressed, as evidenced by the disappearance of a massive structure previously set up beside the garage-elevator’s pit.
- The Boring Company’s garage-elevator site as of 12/06/2018. (Credit: Pauline Acalin)
- A structure believed to be an elevator shaft was built beside the opening of the Prairie Ave. garage-elevator site. (Credit: Pauline Acalin)
- A structure believed to be an elevator shaft was built beside the opening of the Prairie Ave. garage-elevator site. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/10/2018. (Credit: Pauline Acalin)
A massive structure believed to be an elevator shaft is believed to have been installed in the garage-elevator as of 12/10/2018. (Credit: Pauline Acalin)
Images taken near the end of November showed a massive structure being set up by The Boring Company beside the pit where it extracted the segments of Godot, its first tunnel boring machine. While the Boring Company did not identify or confirm the purpose of the structure, its size and height suggested that it was a shaft for the underground elevator being built on the site, where vehicles will be lifted out from the test tunnel.
Considering that the elevator shaft was nowhere to be seen as of Monday, it appears safe to assume that the structure has already been installed in the elevator itself. This bodes well for the project, as the structure is a key component to the Boring Company’s plans in the area. The garage-elevator, after all, is a bit different from the tunneling startup’s other projects, such the Hawthorne tunnel or the Dugout Loop, in the way that it would not be opened to the public even when it gets completed.
Instead, the structure would be used strictly for testing purposes only, with vehicles being moved from the test tunnel into the elevator, before being lifted onto the street. In a statement to Mercury News last September, Boring Company representative Jane Labanowski described the garage-elevator as an “important part of the longer-term vision the company is trying to build.” If the garage-elevator works as intended, it is not difficult to imagine The Boring Company rolling out the concept to its future stations, particularly those located near or even within residential areas.
- The Boring Company’s garage-elevator site as of 12/06/2018. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/06/2018. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/06/2018. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/06/2018. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/06/2018. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/10/2018. (Credit: Pauline Acalin)
- The Boring Company’s garage-elevator site as of 12/10/2018. (Credit: Pauline Acalin)
Work continues on the site of The Boring Company’s garage-elevator concept. (Credit: Pauline Acalin)
Similar to The Boring Company’s other projects, the vehicles that would be transported from the SpaceX headquarters to the elevator will be traveling through the startup’s electric skates. These skates use Hyperloop technology, and are expected to facilitate high-speed transportation from the tunnels to the garage-elevator.
The Boring Company initially announced that it would hold an opening party for its Hawthorne test tunnel on December 10, with test rides in the system being offered to the public for free the following day. In a recent announcement, though, Elon Musk stated that the test tunnel’s opening event is being moved to December 18 instead. Musk did not give a specific reason behind the delay, though considering the work still being done on some Boring Company projects like the Prairie Avenue elevator, there is a good chance that the tunneling startup is opting to refine some of its projects further before unveiling them to the public.
News
Tesla tops American-Made Index for sixth-consecutive year
Tesla is atop the American-Made Index from Cars.com for the sixth-straight year, as the Model 3 and Model Y took the top two spots, respectively.
Last year, the Model 3, Model Y, Model S, and Model X took the top four spots, respectively. The company has routinely performed well in the Index. However, Tesla discontinued its flagship Model S and Model X earlier this year, which took the two cars out of the ranking.
Cybertruck is not considered due to its curb weight being above the 8,500-pound threshold, which eliminates it from being required to have more detailed assembly information.
Cars.com uses five main categories to develop its rankings:
- Location(s) of final assembly
- Percentage of U.S. and Canadian parts
- Countries of origin for all available engines
- Countries of origin for all available transmissions
- U.S. manufacturing workforce
These five major factors are then put into a 100-point scale. The vehicles with the highest scores sit atop the list. The Model 3 edged out the Model Y.
🇺🇸 The Tesla Model 3 and Tesla Model Y have been put atop the American-Made Index from https://t.co/PXZ0g1pPb6, meaning they are the most American vehicles you can possibly buy.
This is the SIXTH-STRAIGHT year a Tesla has been listed as the most American-made vehicle: pic.twitter.com/HyraOmaxSL
— TESLARATI (@Teslarati) June 23, 2026
Tesla uses a strong domestic strategy to build its cars and parts domestically. It relies on intense vertical integration that reduces its dependence on global suppliers, keeping more value and jobs in the United States.
This strategy has helped Tesla gain a strong reputation for domestically produced vehicles and parts. However, it helps it with more than just awards like this one. Keeping a supply chain local has also helped insulate Tesla more than others from tariffs and supply chain disruptions.
This year’s American-Made Index from Cars.com studied nearly 400 vehicles from the 2026 model year. Tesla was the only manufacturer to have an EV inside the Top 10. The Kia EV9 was the next EV to make the list, scoring the 17th position.
The Hyundai IONIQ 5 was 21st, and the final EV to make the list was the Cadillac LYRIQ in 77th.
Elon Musk
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
Investor's Corner
SpaceX makes $20 billion move to optimize its balance sheet
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.











