Elon Musk's Boring Company now valued at $6 billion, company says

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Musk's Boring company received a new infusion of cash to build its Tesla tunnels Thursday.

Musk founded the company in 2016 with the aim of relieving traffic congestion without creating more surface roads.

"The funds from the round will be used to significantly increase hiring across engineering, operations, and production to build and scale Loop projects, including Vegas Loop and others, in addition to accelerating the research and development of Prufrock and future products," Musk's company said in a statement.Prufrock is the company's term for its boring machine, which it says can cut out a tunnel up to four miles long in less than a month.

"Prufrock-3 is designed to be even faster, with the medium term goal of 1/10 human walking speed, or 7 miles/day," the company said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Dear Fox Business ,I just inform Elon Musk that Jay-Z's group wanna murder me ----- their ghostwriter . then Elon blocks my Twitter and FB !He seen !! But still block mine . This kind of man cannot protect the freedom of speech.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk's Tunnel-Making Venture Boring Company Hits $5.7 Billion ValuationThe Boring Company said it has raised $675 million in a funding round valuing the firm at $5.675 billion.
Source: nbcchicago - 🏆 545. / 51 Read more »

Boring Company raises additional $675 million as investors chuck money into holes in the groundThat’s a lot of money for putting Teslas in tunnels: Does the boring company pay taxes on that land and all the work that goes into plotting? Or is it a one and done deal? This headline deserves a Pulitzer Trains….
Source: verge - 🏆 94. / 67 Read more »