News headline: Trump's Push to Relax U.S. Autonomous Driving Regulations Boosts Tesla Stocks

Foreks - News that Trump intends to loosen autonomous driving regulations in the U.S. has boosted Tesla shares in pre-session trading. Tesla shares are trading at $346.16, up 7.92% in pre-session trading. According to informed sources, members of elected President Donald Trump's transition team have told their advisors that they plan to make establishing a federal framework for fully driverless vehicles one of the Transportation Department's priorities. If new rules enable cars without human control, it would directly benefit Tesla Inc. CEO Elon Musk, who is a major donor to Trump and has become a strong fixture in the elected president's inner circle. Musk has linked the future of the electric vehicle manufacturer to autonomous driving technology and artificial intelligence. Current federal regulations pose significant barriers for companies wishing to deploy vehicles without a steering wheel or foot pedals, as Tesla plans to do. According to sources familiar with the matter, who wished to remain anonymous due to the sensitivity of the information, the Trump team is seeking policy leaders to develop a framework for the department to regulate driverless vehicles. While the Transportation Department could issue rules to facilitate the operation of autonomous vehicles through the National Highway Traffic Safety Administration, legislation from Congress could pave the way for the mass adoption of driverless vehicles.