The Clark County Nevada Commissioners Board recently approved The Boring Company’s (TBC) Vegas Loop franchise agreement, marking another milestone in the project.
The Board granted TBC a franchise agreement on Wednesday, October 20, 2021. As per the agreement, the tunneling company has permission to install and operate a Monorail part of the Vegas Loop.
Clark County Nevada revealed TBC will not use any funds from taxpayers to build its Vegas Loop. It also emphasized that TBC plans to source local contractors and local workers for the project. The Vegas Loop will span 29 miles with 51 stations and the capacity to accommodate up to 57,000 passengers per hour.
TBC has not shared fares for the Vegas Loop yet. However, the franchise agreement does show a breakdown of the payments and fees TBC may make or incur.
“Gross Revenue, as defined in Section 6.14.020 of the Clark County Code, includes all revenue received by FRANCHISEE related to Vegas Loop Monorail service (such as fares, advertising, and concessions), minus federal, state and local taxes collected by FRANCHISEE, and refunds,” noted the agreement.
“Revenue received from interest/investment earnings or from third parties to reimburse or offset costs incurred by FRANCHISEE for design, engineering or construction work, Vegas Loop operations and maintenance work or comparable non-service-related fees shall not count towards Gross Revenue.”
TBC will pay the first franchise fee on the day of the first paid fare. The fee is calculated every quarter. After, payments and fees are due every 15th day of each calendar quarter.
The Vegas Loop is The Boring Company’s more extensive tunneling project in Sin City. It will run through the Las Vegas Strip, leading to stations in popular tourist spots, including the Allegiant Stadium and Resorts World.
In July, photos of TBC’s Resorts World extension were shared online. Based on the pictures, The Boring Company is already making significant progress with the construction of the Vegas Loop.
Read the Boring Franchise Agreement below!
Boring Franchise Agreement by Maria Merano on Scribd
The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.
News
JB Straubel’s Redwood launches energy business focused on second-life EV batteries
Redwood stated that many EV battery packs retain more than 50% of their capacity after being retired from vehicles.

Redwood Materials, the battery recycling firm founded by Tesla co-founder JB Straubel, has launched a new venture called Redwood Energy. The business aims to repurpose used electric vehicle batteries into large-scale, low-cost energy storage systems.
In a post on X, Redwood revealed that it has already deployed a 12 MW, 63 MWh microgrid powered entirely by second-life EV batteries. The system is currently powering a modular data center for Crusoe AI, and it already operates at a lower cost than conventional solutions.
Repurposed batteries for scalable storage
Redwood Energy is designed to bridge the gap between battery recovery and recycling by extracting value from discarded EV packs that still hold usable charge. In a blog post, Redwood stated that many EV battery packs retain more than 50% of their capacity after being retired from vehicles. That remaining energy is well suited for stationary storage applications even without recycling.
The process begins with Redwood’s collection and diagnostics system, which identifies battery packs that are still suitable for reuse. Those packs are then integrated into modular energy systems that can store energy from solar, wind, or the grid. Once the batteries reach true end-of-life, they are recycled through Redwood’s closed-loop system to recover critical minerals.
Meeting the demands of an AI-driven grid
Redwood estimates that more than 100,000 EVs will be retired this year in the United States, with millions more currently on the road. These vehicles represent hundreds of gigawatt-hours of storage potential. These resources are coming in at the right time, as electricity demand is rising rapidly amid the rise of artificial intelligence, which tends to be power-hungry.
Redwood Energy already has more than 1 GWh of second-life batteries in its deployment pipeline. That figure is expected to grow to 5 GWh in the coming year. Larger 100 MW projects are also in development.
Investor's Corner
Tesla gets $475 price target from Benchmark amid initial Robotaxi rollout
Tesla’s limited rollout of its Robotaxi service in Austin is already catching the eye of Wall Street.

Venture capital firm Benchmark recently reiterated its “Buy” rating and raised its price target on Tesla stock (NASDAQ: TSLA) from $350 to $475 per share, citing the company’s initial Robotaxi service deployment as a sign of future growth potential.
Benchmark analyst Mickey Legg praised the Robotaxi service pilot’s “controlled and safety-first approach,” adding that it could help Tesla earn the trust of regulators and the general public.
Confidence in camera-based autonomy
Legg reiterated Benchmark’s belief in Tesla’s vision-only approach to autonomous driving. “We are a believer in Tesla’s camera-focused approach that is not only cost effective but also scalable,” he noted.
The analyst contrasted Tesla’s simple setup with the more expensive hardware stacks used by competitors like Waymo, which use various sophisticated sensors that hike up costs, as noted in an Investing.com report. Compared to Tesla’s Model Y Robotaxis, Waymo’s self-driving cars are significantly more expensive.
He also pointed to upcoming Texas regulations set to take effect in September, suggesting they could help create a regulatory framework favorable to autonomous services in other cities.
“New regulations for autonomous vehicles are set to go into place on Sept. 1 in TX that we believe will further help win trust and pave the way for expansion to additional cities,” the analyst wrote.
Tesla as a robotics powerhouse
Beyond robotaxis, Legg sees Tesla evolving beyond its roots as an electric vehicle maker. He noted that Tesla’s humanoid robot, Optimus, could be a long-term growth driver alongside new vehicle programs and other future initiatives.
“In our view, the company is undergoing an evolution from a trailblazing vehicle OEM to a high-tech automation and robotics company with unmatched domestic manufacturing scale,” he wrote.
Benchmark noted that Tesla stock had rebounded over 50% from its April lows, driven in part by easing tariff concerns and growing momentum around autonomy. With its initial Robotaxi rollout now underway, the firm has returned to its previous $475 per share target and reaffirmed TSLA as a Benchmark Top Pick for 2025.
News
Tesla is testing a new way to eliminate a rare but concerning Supercharger issue
Tesla is testing a new way to end a rare issue at Superchargers, and its internal pilot program has already started.

Tesla is now testing a new way to eliminate a rare but concerning issue that can arise at Superchargers, especially as the company’s vehicles become more popular.
Tesla’s Supercharger Network is the most robust in the world, but the company has opened it up to other manufacturers, which makes the network even more congested than it already is.
Superchargers are continually being built, and existing stations are undergoing expansion in congested areas. However, there is one rare issue that still arises from time to time, and that’s the case of drivers cutting in line to charge before another vehicle that arrived before they did.
Tesla is rolling out a new ‘Supercharger queue’ in an effort to end one issue
A few months ago, Tesla said it would start testing a “virtual queuing” system that would tell cars what their position is in line. This would eliminate any instances of confusion between drivers and would also keep cutters from butting in front of those who arrived before them.
Now, Tesla is officially testing the program, according to Max de Zegher, the company’s North American charging head:
Pressure testing virtual queuing with the awesome @TeslaCharging teams, including for corner cases & bad actors. Public pilots next. If we get this right, it will be a big improvement for those rare cases with a wait. https://t.co/mxpFarYgJi pic.twitter.com/IgVVH2wiOe
— Max (@MdeZegher) June 26, 2025
Public pilots will begin soon at select sites after Tesla completes its internal testing. Admittedly, this is an incredibly rare issue, but it is something that is worth confronting because it will eliminate confrontations at Superchargers.
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