Elon Musk continues to expand his influence.
This effort most often involves the products and services offered by the companies he directs, founded and co-founded.
Take the electric-vehicle manufacturer Tesla. The Austin, Texas-based group, of which he is chief executive, has pushed the rest of the auto industry to transition to electric vehicles. Battery-powered vehicles are seen as the future of cars, thanks largely to Musk's vision.
In a few months, Tesla will deliver its Cybertruck, its first pickup. This vehicle is expected to revolutionize how consumers and analysts view pickup trucks. It is expected to broaden the appeal of this sector beyond America's heartland and reach younger urbanites with high purchasing power.
Another example of Musk's building his influence, his brand and his companies' brands is Starlink, the satellite internet access service developed by SpaceX, the billionaire's aerospace company.
Starlink became a prominent worldwide product after Musk, on Feb. 24, 2022, decided to provide it for free to Ukraine as it fought off Russia's invasion. Since then, the service has been seen as a window of freedom for millions of people living in dictatorships. For people in remote areas and regions, the service is a means of connecting to the rest of the world.
Boring Co.: Major Expansion of Las Vegas Project
Yet another service contributes to increasing the tech mogul's influence.
This is Loop, developed by Boring Co., the tunneling and infrastructure company Musk founded to relieve congestion in large cities.
Loop is an all-electric high-speed underground public system in which passengers are transported to their destinations with no stops.
Boring Co.'s first major loop is in Las Vegas, a 29-mile tunnel network connecting 51 stations. Tesla has a fleet of vehicles in the loop with human drivers who ferry convention-goers.
This Loop is now set for major expansion as Boring Co.'s plans have been approved by local authorities, both sides said.
"#ClarkCounty Commissioners just approved new @boringcompany plans for 18 new stations and about 25 miles of tunnels," the county announced on Twitter, adding that the plans will extend the Vegas Loop out from the Las #Vegas Strip corridor.
It added that the Vegas Loop expansion plan includes sections in Clark County and also within the city of Las Vegas to the north and northwest. The new stations and extensions will also operate underground, according to the official documents, in the vicinity of the Resort Corridor, Allegiant Stadium, the University of Nevada-Las Vegas, Town Square Las Vegas, and Blue Diamond Road/Las Vegas Boulevard South.
This system will operate with autonomous vehicles on paved routes within the underground tunnels.
In total, the Vegas Loop will extend to over 65 miles and will have 69 stations, rejoiced the Boring Co., which sees a "great partnership" with the local authorities.
Solving Traffic Problems in Las Vegas
This expansion will make Boring Co. and Musk even more visible in Las Vegas, one of the world's main tourist cities. Visitors and locals will attach the billionaire's name to fewer traffic jams.
Musk surely didn't hesitate to retweet the Vegas Loop expansion announcement.
Boring Co. is an infrastructure-services company with a mission to solve traffic problems and transform cities. The company touts its tunneling abilities: It digs tunnels to relieve traffic jams and other issues.
"Tunnels minimize usage of valuable surface land and do not conflict with existing transportation systems," the tunnel venture says on its website. "A large network of tunnels can alleviate congestion in any city; no matter how large a city grows, more levels of tunnels can be added."
Last year, the company, which was founded in 2016, raised $675 million from an investor group led by venture firms Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. The transaction increased Boring Co.'s valuation to $5.68 billion.
The funds were targeted to increase hiring across engineering, operations, and production, to build and scale loop projects, including the Vegas Loop and others, and to speed the research and development of Prufrock and future products, the company said at the time.
Prufrock is the next-generation tunnel machine, designed to develop infrastructure megaprojects in a matter of weeks at a fraction of current costs, according to Boring Co.
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