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Elon Musk To Launch His Boring Company, China

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Elon Musk has revealed that his tunneling startup, the Boring Company, will launch in China later in August.

One of Musk's followers on Twitter said that Tesla's Chief Executive Officer will attend the World Artificial Intelligence Conference or WAIC 2019 in Shanghai, China from August 29 to 31.

Replying to the tweet, Musk said, "Will also be launching the Boring Company China on this trip."

To a question by another Twitter user on whether the company would also do underwater tunnels in addition to its underground tunnels business, Musk just replied, "yes."

Musk founded the Boring Company, an infrastructure and tunnel construction company, in late 2016. The company was initially formed as a subsidiary of Musk's space startup, SpaceX, but became a separate and fully independent company in 2018.

Musk has said his inspiration to start the Boring Company was the Los Angeles traffic and limitations with the current 2-D transportation. The company plans to build underground transport tunnels for the hyperloop transportation systems.

In July, Bloomberg reported that the Boring Company raised its first outside investment through the sale of $120 million in stock to venture capital firms.

Boring Company won a $48.7 million project in May 2019 to build and operate a underground "people mover" to shuttle people underneath the Las Vegas Convention Center.

The new LVCC loop is the company's first commercial contract and is expected to be completed in time for the Consumer Electronics Show or CES 2021.

A loop is a high-speed underground public transportation system in which passengers are transported via compatible autonomous electric vehicles or AEVs at up to 155 miles per hour.

The Boring Company currently uses Tesla Model Xs, modified with alignment wheels and, for certain projects, an extended chassis to accommodate up to 16 passengers.

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