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Search results for The Boring Company

Politics

Elon Musk emerges as top funder for U.S. Republicans as SpaceX federal awards surge

Elon Musk has spent about $366 million on at least 40 U.S. midterm election contests, emerging as the largest individual donor, while SpaceX won $6.78 billion in federal government work over the same period. Filings show much of the spending flowed to Republican groups and America PAC. With Congress overseeing budgets and regulation, attention is focusing on how election outcomes could affect Musk-linked companies, contracts and probes.

Mobility

Boring Company unveils \'Liner Truck\' using Model 3 drivetrain to haul containers in tunnels

Elon Musk-led Boring Company showed remote-controlled freight-handling equipment using Tesla Model 3 battery packs and drive units to move a standard shipping container inside a tunnel. The company is seeking to electrify and automate internal logistics for heavy loads in narrow tunnels, though the extremely tight clearance raises questions about stable remote control. The Liner Truck can carry up to 22,000 pounds but has limited speed and range under load.

Industry

Musk\'s Boring Company raises $3 billion in UAE-led round, valued at $23 billion

Elon Musk\'s tunnelling company The Boring Company raised $3 billion in a Series D round led by the United Arab Emirates and related investment institutions, valuing it at $23 billion. The valuation is about four times its roughly $5.7 billion value in 2022. The company plans to use the funds to hire staff, expand Loop projects and develop its Prufrock tunnelling machine, with a key focus on building more than 150 km of tunnels in the UAE.