Las Vegas is about to take a gamble on Musk’s Boring Company

Contract for Tesla-powered underground system reveals lofty goals for a company whose founder is known for missing deadlines

Las Vegas is set to give Elon Musk’s Boring Company its first payout: a $44m contract to build a high-speed underground transit system serving an expanded convention center. But the city is hedging its bets. The contract withholds over two-thirds of payments until construction is complete, and specifies hefty penalties should the system fail to accommodate enough passengers.

The project is a gamble on technology that has yet to be demonstrated at a commercial scale, and on a company whose founder has a reputation for missing deadlines.

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from World news | The Guardian