Trump's transition team is reportedly seeking to staff the Transportation Department with individuals willing to create a regulatory framework for autonomous vehicles. However, any significant changes to the rules will require bipartisan support in Congress. Despite safety concerns and legislative hurdles, Musk is pushing for more relaxed regulations. His ambitious plans include a prototype for a steering-wheel-less "Cybercab", designed to compete with Alphabet's Waymo and General Motors' Cruise.
Key takeaways:
- Donald Trump's incoming administration is expected to attempt to widen the rules governing self-driving cars, which could benefit Tesla and its CEO Elon Musk.
- Despite safety concerns and investigations by federal regulators, investors are optimistic about the potential of Tesla's autonomous vehicles.
- Trump's transition team is looking to staff its Transportation Department with employees willing to create a framework for the regulation of self-driving vehicles, but any major revisions will still require bipartisan support in Congress.
- Elon Musk has shown off an early prototype for a steering-wheel-less "Cybercab", aiming to rival Alphabet's Waymo and General Motors' Cruise in the autonomous ride-hailing service market.