Tesla stock soars after Trump’s announcement for simpler rules for autonomous driving

President-elect Donald Trump’s transition team is working to simplify the rules governing driverless cars, a priority for the next Department of Transportation of the new US administration. The American media reported this, citing “sources from Trump’s team”.

The news caused a surge in Tesla shares, a pioneer in this sector. Press reports remind us that such a move would directly benefit Tesla leader Elon Musk, one of the closest allies of the next president of the United States, who has invested precisely in autonomous driving technology and artificial intelligence. At the moment, US regulations are strict and hinder companies that sell driverless vehicles; the new administration therefore aims to find a regulatory framework that poses fewer obstacles to this economic activity.

In the pre-market on Wall Street, the stock of the company led by Elon Musk is trading at +5,83%. The billionaire, who is now part of the new president’s inner circle, intends to do the robotaxi, a self-driving vehicle without the need for human supervision, Tesla’s flagship product. As highlighted by Bloomberg, at the moment the companies that want to sell vehicles without a steering wheel or pedal board they have to deal with significant regulatory obstacles.