Connect with us

News

Elon Musk’s Boring Company completes Las Vegas tunnel major milestone

Credit: Multivista Construction Documentation

Published

on

The Boring Company’s first Las Vegas tunnel reached a major milestone on Friday after completing excavation on the first of two planned vehicular tunnels beneath the Las Vegas Convention Center campus.

The boring machine broke through its target destination – a concrete wall located on the West Hall convention that’s currently under construction – in record time after tunneling nearly a mile since The Boring Company’s groundbreaking event in Las Vegas on November 15, 2019.

This would mark the first half of its high-speed transport system intended to shuttle convention attendees across the sprawling Las Vegas Convention campus in just over one minute, free of charge, in all-electric Tesla vehicles. Tesla’s goal is to complete the Las Vegas Convention Center’s loop system on time for the next year’s 2021 CES technology show.

Once the first tunnel is completed, the tunneling startup is expected to disassemble its TBM from the west end of the West Hall and moved back to the east end of the East Hall. Doing so completes the second tunnel, and it will mark the completion of the LVCC Loop’s transport line. After this, work will commence on fitting the tunnels to support The Boring Company’s transport pods, which will be ferrying passengers from one end of the LVCC to another. 

Advertisement

The Las Vegas transport tunnels will be the first mainstream project of The Boring Company. Prior to the LVCC Loop, the tunneling startup has only completed a proof-of-concept tunnel in Hawthorne, CA, which involved Tesla Model X SUVs ferrying passengers from one end of the line to another. The Las Vegas tunnel system is poised to utilize another type of vehicle to transport passengers. The line will reportedly be using autonomous vehicles that have enough room for up to 16 people. 

While The Boring Company’s transport tunnel in Las Vegas is progressing well, the project is starting to become quite polarizing. In a statement to Inverse, Richard N. Velotta, a journalist who has been following the project’s progress, noted that public opinion has become very mixed today. “What I find most interesting is that those who are opposed are extremely opposed. Those who support are extremely supportive. No middle-of-the-road here,” he said. 

Among the LVCC Loop’s critics is Mayor Carolyn Goodman, who argued that the Boring Company and its technology are largely untested, and therefore risky. Yet, it should be noted that the tunneling startup’s contract for the project includes stipulations ensuring that The Boring Company will be liable if the system does not operate as intended. On the other hand, the project also has a number of ardent supporters. 

“There are huge supporters, both of the Boring system and Mr. Musk. They point out that Las Vegas, as a gambling city, has always taken big risks to capitalize on big rewards. This project is just such an instance,” said Velotta. 

Advertisement

 

(Press release from the Las Vegas Convention and Visitors Authority)

Las Vegas Convention Center Celebrates Major Milestone in Elon Musk’s Innovative Underground Transportation System; Excavation of First Tunnel Complete

LAS VEGAS – The Las Vegas Convention and Visitors Authority (LVCVA) today announced that excavation is complete in the first of two vehicular tunnels that will comprise TBC – The Boring Company d/b/a Vegas Loop underground transportation system located beneath the Las Vegas Convention Center campus. After tunneling forty feet underground for nearly a mile over the past three months, the boring machine hours ago broke through the concrete wall located near the 1.4 million square foot West Hall convention center expansion, currently under construction, signaling the official completion of excavation for the first of two one-way tunnels.

Advertisement

The Convention Center Loop was designed to serve as an innovative, fun and quick transportation solution to move thousands of convention attendees throughout the more than 200-acre campus with the potential for expansion in the near future to ease congestion throughout the Las Vegas resort corridor.

Next, the machine will be disassembled, transported via trucks and lowered back into the launch pit near the Convention Center’s South Hall where it will begin boring a parallel path adjacent to the first tunnel. The first commercial endeavor for the new tunneling company is designed to transport up to 4,400 convention attendees per hour and is scheduled to debut to the public in January 2021.

“This marks an important milestone in the future of transportation,” said Steve Hill, LVCVA CEO and president. “Las Vegas is proud to lead the way as the first and only destination to offer an underground transportation solution for moving visitors throughout our convention center.”

The $52.5 million underground transportation system will include three passenger stations connecting the existing 3.2 million square-foot of convention space with the convention center’s new West Hall, part of a $1.52 billion expansion and renovation. The system will allow convention attendees to be whisked across the sprawling campus in just over one minute, free of charge, in all-electric Tesla vehicles.

Advertisement

 

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Advertisement
Comments

News

Tesla Cybercab launch is imminent after latest sighting at Giga Texas

Published

on

Credit: Joe Tegtmeyer | X

Tesla just gave what is perhaps its biggest signal yet that the launch of the Cybercab, its autonomous ride-hailing-geared car, is imminent.

The Cybercab has been spotted outside of Gigafactory Texas in massive numbers over the past few days, with hundreds of units being stored on property just days after the vehicle received a Certificate of Conformity from the EPA.

Today, things were a bit different.

Cybercabs spotted on Giga Texas property today had an addition: a Cybercab decal on the side, reminiscent of the “Robotaxi” ones that were placed on Model Ys just as the company launched its ride-sharing platform about a year ago.

Giga Texas drone operator Joe Tegtmeyer noticed the change today:

Tesla could be signaling that the Cybercab is preparing to enter the Robotaxi fleet in the coming weeks or months with this move. It seems more symbolic than anything; Tesla is ready to throw Cybercabs in the ride-hailing platform just as it did with Model Ys last year.

The addition of the Certificate of Conformity awarded to the Cybercab is another major factor working to Tesla’s advantage. The company now has permission from the EPA to allow the vehicle to operate on public roads and enter the chain of commerce. It’s officially street legal.

Tesla Cybercab specs revealed: range, curb weight, range ratings, and more

The big question that remains is whether Tesla will be able to operate the car without a safety monitor, especially considering it plans to put the car out there without a steering wheel or pedals. With the Cybercab only having a seating capacity of two, it is hard to believe Tesla will even consider putting a Safety Monitor in the car.

It did recently self-certify as Level 4 and has the ability to operate driverless vehicles in the State of Texas under a law that took effect on May 28. You can read more about that here:

Tesla’s Robotaxi dreams just took a massive step toward reality

We’d imagine Cybercabs will be on the roads as soon as July, but August will likely be a better estimate of when the car will be entered into the Cybercab fleet. It all depends at where Tesla is, as they’ve truly prioritized safety with the rollout of the Robotaxi platform.

Continue Reading

News

Elon Musk says this part of Tesla ‘makes no sense’

Published

on

Justin Pacheco, Public domain, via Wikimedia Commons

Elon Musk has publicly questioned Moody’s credit assessments following the rating agency’s decision to assign SpaceX a Baa1 investment-grade rating, two notches above Tesla’s Baa3. The comments came amid discussions comparing the two companies’ financial profiles.

SpaceX earned its first-time Baa1 rating with a stable outlook from Moody’s. The agency highlighted the company’s leadership in orbital launches, the growing recurring revenue from its Starlink satellite network, strong vertical integration, U.S. government contracts, and emerging opportunities in AI infrastructure.

These factors were cited as supporting robust cash flows, margin expansion, and financial flexibility.

Musk responded directly: “Tesla’s credit rating is ridiculously low tbh,” and added, “Yeah, makes no sense. Tesla has over $40B in cash, no debt, and is consistently profitable!” His remarks underscored Tesla’s balance sheet strength and profitability at a time when many traditional automakers continue to report losses in the shift to electric vehicles.

Tesla maintains a leading position in the global EV market, with diversification into energy and storage, battery technology, and robotics through projects like Optimus. Recent financial updates show the company generated positive free cash flow of $1.4 billion in Q1 2026, supported by operating cash flow of $3.9 billion. Cash and short-term investments stood at approximately $44.7 billion.

Moody’s has affirmed Tesla’s Baa3 issuer rating with a stable outlook in periodic reviews, acknowledging the company’s EV leadership, technology strengths, including AI for autonomous vehicles, solid profitability, and strong liquidity.

Tesla (TSLA) scores Baa3 Moody’s rating for ‘stable’ outlook

However, the agency has also noted challenges in the automotive segment and expectations for margin pressures.

Musk’s critique highlights a common debate about how traditional rating methodologies apply to high-growth, capital-intensive technology companies. SpaceX benefits from long-term government-backed contracts and diversified, recurring revenue streams, while Tesla’s valuation reflects heavy investment in future technologies such as autonomy and robotics.

Both ratings remain investment-grade, yet the one-notch difference has fueled online discussion about potential inconsistencies in evaluating innovative firms.

The exchange comes as SpaceX explores financing options following its recent valuation milestones, while Tesla continues executing on its multi-year roadmap. Musk’s pointed response serves as a reminder that credit ratings, though influential for borrowing costs, represent one lens through which markets assess corporate strength—and that company leaders often view their financial positions through the lens of long-term innovation and cash generation rather than short-term risk metrics alone.

Continue Reading

News

Tesla Full Self-Driving faces major pushback in Europe

Published

on

Credit: Tesla

A new report from Reuters claims that a transport authority in Sweden is pushing back against the approval of Tesla’s Full Self-Driving suite because it will travel over speed limits.

The report says the Swedish Transport Administration (TRV) recommends the European Union votes against FSD’s approval. TRV believes it should not be approved until Tesla disables FSD’s ability to speed.

TRV sent a letter to the European Union’s Technical Committee on Motor Vehicles (TCMV), which is set to meet on June 30 to discuss the potential approval of the Tesla FSD suite in the country. Tesla, which has received various approvals in Europe over the past two months, has not provided a comment.

Tesla Full Self-Driving gets first-ever European approval

Teslas operating on FSD do travel over the speed limit, depending on the Speed Profile that is chosen. Drivers have the ability to disengage FSD at any point; Tesla specifically states that those supervising the suite are responsible for its actions.

Let’s cut to the chase: humans operating any vehicle speed almost daily in the United States. Realistically, speed limits in the U.S. are more frequently treated as speed minimums. However, other countries are different, and driving behaviors are less aggressive.

TRV believes that “allowing automated systems to systematically exceed legal speed limits…risks undermining both the legal framework and the expected safety benefits of ​vehicle automation,” the report stated. It’s surprising that Tesla has not received this claim from other countries previously.

This could be a good argument to bring Max Speed back, the setting that previously allowed the driver to choose the absolute fastest the car would travel.

This would still put the responsibility of supervision in the hands of the driver. It would allow the driver to choose whether the car would travel over the speed limit or not, acknowledging that they set the speed, and if they get pulled over, there would be no ability to argue it.

However, it does not seem as if this is something Tesla will do, especially considering many U.S. drivers have requested the feature in an effort to eliminate speeding or at least tone it down. The company has not shown any interest in bringing it back.

Tesla has approvals for FSD in Europe in Estonia, Lithuania, Denmark, the Netherlands, and Belgium.

Continue Reading