Main to remember
- Tesla’s sharing jumped on Friday, extending their recent rally after CEO Elon Musk said he would spend more time on Tesla, while the Trump administration has moved to loosen the rules concerning autonomous cars.
- This decision would benefit Tesla, who has long praised autonomous cars as central to its growth prospects.
- Musk said when calling the company’s profits on Tuesday that Tesla expects to sell fully autonomous rides in Austin, Texas, in June, with this company extending to other cities this year.
Tesla’s sharing (TSLA) jumped on Friday, extending their recent gathering after the CEO Elon Musk said that he would spend more time on Tesla, while the Trump administration was moving to loosen the rules concerning autonomous cars.
The action increased by more than 6% in recent exchanges, which makes it one of the most efficient actions of the S&P 500 and the NASDAQ on Friday. (Read Investor Live coverage of the action of today’s market here.)
The Trump administration said Thursday that it would relax the rules governing autonomous vehicles, in order to help companies compete with Chinese rivals.
“This administration understands that we are in a race with China to innovate, and the issues could not be higher,” said Sean P. Duffy, US transport secretary. “As part of the DOT innovation program, our new framework will reduce administrative formalities and bring us closer to a single national standard which stimulates innovation and prioritizes security.”
This decision would benefit Tesla, who has long praised autonomous cars as central to its growth prospects. Musk said during the call for the company’s results on Tuesday that Tesla expects to sell fully independent rides in Austin, Texas, in June, with this company extending in other cities this year and becoming financially material in the second half of 2026.
Tesla’s shares have rally rallying since the call, while investors focused on Musk’s commitment to spend more time at Tesla, and the company’s plans for a cheaper model and fully autonomous vehicles, rather than its lower than expected results.
With Friday earnings, the shares added around 15% this week. However, the stock of the electric vehicle manufacturer has lost almost a third of its value since the start of the year.