Elon Musk Has High Hopes for His Underground Tunnel
Musk claimed on [Instagram](https://www.instagram.com/p/BinoVT6Acpd/?taken-by=elonmusk) that his first underground tunnel in LA is "almost done," pending final regulatory approvals, and promised his Boring Company will initially offer free rides to the public. But investors have come to take the Tesla CEO's bold promises with a grain of salt.
The global semiconductor shortage is actively hurting numerous industries, with the auto industry itself on pace to lose $210 billion by the end of the year. Brad Wimmer, EVP at Auto Lenders, joined Cheddar to discuss a White House meeting surrounding chip shortages and how industries can find a way to move forward. He noted that the end of the shortage is unlikely if the U.S. continues to depend on outside manufacturers. "We need consistent momentum and clarity, and we do not have that right now," Wimmer said. "So, I think this is going to continue into 2023."
