Press releases from automotive companies or major transportation news outlets

Tesla Shares Jump 8% as Trump's Team Prioritizes Self-Driving Car Rules

Nov 18, 2024, 11:01 AM

Members of President-elect Donald Trump's transition team have reportedly informed advisers that establishing a federal framework for fully self-driving vehicles will be a top priority for the Department of Transportation. This move aims to ease U.S. regulations on autonomous vehicles by replacing the current patchwork of state-by-state approvals with unified national standards. The regulatory changes could directly benefit companies like Tesla Inc., supporting CEO Elon Musk's ambitions for fully autonomous vehicles and robotaxis. Following the news, Tesla shares surged as much as 8% in pre-market trading. The Trump administration's plan to streamline regulations could accelerate the deployment of self-driving cars in the United States.