December 19, 2018, 6:56 AM 3:06 Engineer and tech entrepreneur Elon Musk of The Boring Company listens as Chicago Mayor Rahm Emanuel talks about constructing a high-speed transit tunnel at Block 37 during a news conference, June 14, 2018, in Chicago. Joshua Lott/Getty Images The tunnel, which extends for two miles, would use elevators to put cars underground. The plan is for cars to travel underground on high speed “skates.” The costs are still uncertain. Musk told reporters, on the test ride on Tuesday, that a pedestrian would ride for about $1, while a car would cost about $4. It will also depend on sponsorship money raised, which Musk said would not be a problem. “We have no problem with investors, we have people hounding us to invest non-stop,” he said. Tesla's Elon Musk has been accused of securities fraud by the Securities and Exchange Commission who have filed a lawsuit. Joshua Lott/Getty Images The Boring Company originally planned a test tunnel on LA's west side in a neighborhood close to the country's most populated highway, the 405 freeway. After protests from neighborhood groups, the company abandoned plans to build another tunnel there. "The purpose is to demonstrate that a lift can be built in very small footprints and within existing buildings, whether they are houses, office buildings, or retail parking lots,” the company says on its website. “Looking forward, one could have a lift in the basement of every office building, allowing extremely convenient commutes." The company is already at work on a tunnel between Baltimore and Washington, D.C., and Musk mentioned hypothetical tunnels in Las Vegas or Chicago. Right now, the boring machine runs at a snail's pace, literally. In fact, it's 14 times slower than a snail. But Mush expects to speed up the drill by 15 times -- eventually. Related Topics