Tesla and SpaceX CEO Elon Musk is serious about launching an independent company dedicated to building an underground network of tunnels, Bloomberg's Max Chafkin reported on Thursday.
Musk first floated the idea of starting a tunnel company called the Boring Company in December on Twitter. The Bloomberg report shows Musk has made progress on bringing his idea to fruition.
Musk has acquired BoringCompany.com and appointed Steve Davis, a senior SpaceX engineer, as leader of the project. He said the tunnel venture will be an independent company from Tesla and SpaceX.
Musk has started digging a pit in the SpaceX parking lot as a "demo tunnel" that can accommodate cars and serve as the basis of an underground transportation network, according to the report.
Although Musk doesn't need permits to dig on SpaceX's campus, he is in the process of acquiring permits to eventually expand the tunnel beyond the property, according to the report.
Musk plans to build an underground network that "includes as many as 30 levels of tunnels for cars and high-speed trains such as the Hyperloop," according to the Bloomberg report.
Read the full Bloomberg report »
Correction: an earlier version of this article identified Shane Yanagisawa as a project manager.
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