Tesla stock jumps on report Trump could ease self-driving regulations

Published On Nov 18, 2024, 1:38 PM

Tesla stock rose by 6% after reports emerged indicating that President-elect Donald Trump's transition team intends to prioritize creating a federal framework for fully autonomous vehicles. This shift could ease existing regulations that currently require vehicles to have manual controls, significantly benefiting Tesla's plans for its upcoming Cybercab, a self-driving taxi set to debut in 2026. Analysts suggest that under a Trump administration, the development of Tesla's AI and autonomous services could reach a valuation of $1 trillion, clearing regulatory hurdles that have historically impeded progress.