Mayor to announce Elon Musk's company will build high speed rail to O'Hare

CHICAGO (WLS) -- Chicago Mayor Rahm Emanuel will announce Thursday morning that Elon Musk's The Boring Company has won its bid to build and operate a high speed rail express service to O'Hare International Airport.

The mayor's office said that the company's proposed plans to transport passengers between O'Hare and Block 37 in the Loop in approximately 12 minutes, using electric vehicles running through twin underground tunnels.

The mayor's office said the project will be funded entirely by The Boring Company, with no taxpayer subsidy.

The Boring Company was one of two teams chosen to respond to a Request for Proposals by the Chicago Infrastructure Trust in March. The city will now begin contract negotiations with The Boring Company, following which the agreement will be presented to the Chicago City Council.

Emanuel is expected to formally announce the selection Thursday morning.