(VOR News) – Tesla shares soared on Monday as reports surfaced that President-elect Donald Trump’s transition team wanted to establish a federal framework to oversee self-driving vehicles as a primary goal for the US Transportation Department.
This was the result of the tale that was published. This was a result of the story that was published in the newspaper. The trading volume of Tesla’s shares increased by almost 5% throughout the afternoon, immediately following the publication of the story by Bloomberg News, which cited anonymous sources.
The Tesla essay appeared right after publication.
However, the network has requested a response from both the Trump team and the National Highway Traffic Safety Administration, a section of the Transportation Department in charge of monitoring autonomous driving technologies.
Although CNBC was unable to independently verify the complaint, it made the request. CNBC demanded that both of these institutions respond.
Musk, a wealthy businessman, was among many who lobbied for Trump’s return to the White House in the run-up to this month’s elections. This month saw the actual holding of the elections.
The billionaire from the technology industry has formed a close bond with the Republican politician, who previously served as president for the first time between 2017 and 2021. As a result of this relationship, the billionaire may be able to gain from the partnership.
President Trump has nominated Elon Musk and Vivek Ramaswamy, a former Republican presidential contender, to lead the newly formed Department of Government Efficiency, or “DOGE” for short. Both of these persons have prior experience in the field of government efficiency.
This appointment was scheduled for the week before to this one. Following Trump’s statements on this department, there will be less “bureaucracy” in the government, as well as fewer “excess” rules and “wasteful” spending.
Tesla, which has been promising completely self-driving vehicles for several years but has yet to deliver a car that can be driven autonomously without a human behind the wheel, would profit from a regulatory framework for self-driving vehicles.
Tesla may take advantage of such a framework.
Tesla would benefit greatly from having such a setup. If this were to happen, Tesla would make a lot of money. Tesla’s long-term goal is to build a fleet of robots, which are self-driving vehicles that can transport people without human supervision. This is what Tesla has set for itself.
Musk introduced Tesla’s highly anticipated robotaxi, commonly referred to as the “Cybercab.” Musk announced it the previous month. The price is $30,000, accommodates two people, and lacks pedals and steering wheels. Furthermore, steering wheels are absent.
In the race for robot axis, Tesla is already behind the competition. This is because Google’s Waymo initiative has already overtaken them. Waymo is one of the few companies that have successfully deployed self-driving cars on public roads. Some more successful companies include.
Tesla’s electric vehicles, including the Model 3 and Model Y, are expected to be equipped with “unsupervised” Full Self-Driving technology within the next year, according to Musk.
Musk also claimed that he expected the firm to have this technology operational in Texas and California. The aforementioned comment was delivered at an event designed to highlight Tesla’s Cybercab and “Robovan” vehicles, which are currently available for purchase.
Full Self-Driving (FSD) is Tesla’s top driving assistance technology.
It is commonly identified by its acronym. The “supervised” version of Tesla’s electric vehicles is now available for purchase.
This version is available for purchase. Under current circumstances, FSD must be driven by a person in order to function properly. This motorist must be prepared to steer or brake at any time.
The President Trump transition team appears to be looking for policy experts to work for the Transportation Department in order to build a federal regulatory framework for self-driving cars. This information comes from Bloomberg, which reports that the team is now seeking such individuals. This is done to ensure that autonomous vehicles operate legally.
According to Bloomberg, Republican Representatives Sam Graves of Missouri and Garrett Graves of Louisiana are not related. Emil Michael, a former executive at Uber, is also part of this group. In addition to the personalities stated above, this group has a few extra members.
SOURCE: CNBC
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