Sunday August 25, 2019
Home Lead Story Musk Plans Ma...

Musk Plans Mass Transit System

Musk "envisions dozens to hundreds of small stations, about the size of a single or double car parking spot, to alleviate traffic at any one spot".

0
//
Musk was joined by The Boring Company director Steve Davis.
Elon Musk. Pixabay.

SpaceX and The Boring Company CEO Elon Musk has for the first time revealed his concept for a personalised mass transit system or “Loop” that will carry 16 people and travel at 240 km per hour for a fare of just $1.

In a rare public appearance here late on Thursday, the Tesla founder also unveiled the project details, including 2.7 miles of tunnel that will run north to south parallel to the 405 freeway in Los Angeles, CNET reported.

Musk, however, did not provide a time-line for his project that could get people from downtown to Los Angeles International Airport in eight minutes in a vacuum tube.

Musk “envisions dozens to hundreds of small stations, about the size of a single or double car parking spot, to alleviate traffic at any one spot”.

Musk was joined by The Boring Company director Steve Davis.

Read also: Musk Hints Collaboration of SpaceX Rockets With Hyperloop Project

“It’s the only way we can think of to address the chronic traffic issues in major cities,” Musk said.

These tunnels were not yet part of his cross-country “Hyperloop” system, which would ferry people in tubes travelling at airline speeds at a much lower cost.

“Excited for @boringcompany partnership with LA Metro,” Musk later tweeted.

LA Metro is the Los Angeles County Metropolitan Transportation Authority, an agency that operates public transportation for the County of Los Angeles.

According to the city, the proposed tunnel would begin with the entry/exit point at 2352-6 Sepulveda Boulevard, north of West Pico Boulevard, in West Los Angeles.

Earlier, Musk hinted that he plans to link the hyperloop project under his start-up The Boring Company with SpaceX’s rockets to create a transportation system that may ferry people anywhere on Earth in less than an hour.

The Boring Company is an infrastructure and tunnel construction company founded by Musk in late 2016.

Musk’s aviation company SpaceX has got approval from the City of Los Angeles to build The Big Falcon Rocket, or BFR, which will be used to explore Mars — a goal that Musk hopes to accomplish by 2022. IANS.

Next Story

The Main Benefits of Opening a Company in A Foreign Country

One of the countries to offer such benefits is Italy, however, specialized advice from accountants or even lawyers is welcome

0
In many cases, choosing a foreign country for starting a business has many advantages. Pixabay

In our days, we can virtually open companies anywhere in the world, which is why setting up a business in a foreign county is easier than even. In many cases, choosing a foreign country for starting a business has many advantages, among which lower taxation is one of the most important aspects kept in mind by investors. One of the countries to offer such benefits is Italy, however, specialized advice from accountants or even lawyers is welcome when it comes to the tax matters which need to be considered.

There are also other advantages linked to starting a business in another country, so let’s take a look at them below.

Most countries offer incentives for foreign investors

Setting up a business in another country leads to obtaining various incentives, as many governments have set in place programs destined to attract foreign investors. From tax deductions to specific industries in which one can invest under advantageous conditions, there are countries which offer opportunities a business person cannot find in his/her home country. 

Company, Foreign, Country
In our days, we can virtually open companies anywhere in the world, which is why setting up a business in a foreign county is easier than even. Pixabay

Those deciding to expand their operations through a Romanian branch office will benefit from numerous such incentives created to support foreign investments.

A foreign country can offer a larger market

Those who come from small countries will definitely find more opportunities in larger countries, which is why a foreign country could represent a better market for a product or service. Then, there are also the countries which need specific products and where, once again, the profits can be higher than in one’s home state.

A cheaper workforce can attract foreign investors

Also Read- Thai Citizens Suffering from Cancer to Start Taking Country’s First Legal Doses of Medical Cannabis

A significant part of the expenses of a company are related to employment which is why many entrepreneurs seek to spend as little as possible on this aspect of a business. This is also one of the few expenses which can be controlled very efficiently by the business owners and choosing a country which offers a cheap workforce from the beginning is definitely a plus for any investor.

Considering there are European and Asian countries which offer cheap and skilled labor force, starting a company in a foreign country for this reason can be a good idea.

There are many advantages related to choosing a foreign country for opening a business and investors will decide the best state based on several aspects which interest them the most, especially when the number of benefits is higher than in the home country.