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The ambitious executive suggests it will be called "The Boring Company."

Tesla Motors chief executive Elon Musk has promised to start yet another business to help alleviate traffic congestion.

"Traffic is driving me nuts," he said in a Twitter post at 5:05am Saturday morning. "Am going to build a tunnel boring machine and just start digging."

The statement appears to have been widely interpreted as a tongue-in-cheek comment, reinforced by the joking follow-up "It shall be called 'The Boring Company,'" however Musk's latest post bluntly states "I am actually going to do this."

The ambitious executive in recent years resurrected the concept of 'hyperloop' transportation using pods traveling at high speeds through tubes. His interest in the technology is credited with inspiring several startups to begin development and feasibility studies, but Musk himself has largely stayed out of the business as he simultaneously leads Tesla, SpaceX and now SolarCity.

Musk is also not the first person to envision an extensive tunnel system to alleviate notorious traffic congestion in California's biggest cities. A Reason Foundation study (PDF) released last year proposes an unprecedented series of underground toll highways spanning 710 miles beneath Los Angeles. Cost is typically the deal breaker for tunnel projects, but the study's authors suggest long-term toll revenue would be worth more than the costs of construction and maintenance.