Following a Bloomberg report indicating that the transition team of President-elect Donald Trump may give top priority to building a legislative framework for autonomous vehicles, Tesla (TSLA, Financial) shares surged dramatically Monday.
The development follows public Trump supporter Elon Musk, the CEO of Tesla, who has been selected to co-lead a suggested Department of Government Efficiency. Musk's selection points to possible harmony between federal regulatory activities and Tesla's innovation drive.
Trump's government might hasten the acceptance of self-driving technology, supporting Tesla's activities in the autonomous car market. Analysts consider this as a turning point for the sector, which has long yearned for unambiguous rules to increase the use of autonomous technology on American roads. Early trading Monday saw Tesla's shares rise noticeably as investors responded to the possibility of favorable government rules confirming the company's leadership in the markets for electric and autonomous cars.
