The United States will relax regulations that hinder the development of Tesla's autonomous taxi service, and Tesla's gains have expanded
The U.S. government will relax regulations on autonomous vehicles and simplify the exemption application process, expecting to make decisions on most applications within a few months. This move will help Tesla and its competitors launch autonomous taxi services in the U.S. Tesla's stock price rose by 1.6% as a result
The Trump administration is taking steps to make it easier for automakers to deploy autonomous vehicles, which could facilitate Tesla and its competitors' ambitions to launch self-driving taxis on U.S. roads in the near future.
Current regulations require that if automakers wish to deploy autonomous vehicles without steering wheels or brake pedals, they must apply for a waiver from federal safety standards, which effectively require new cars to be equipped with manual driving controls. The National Highway Traffic Safety Administration (NHTSA) stated in a letter posted on its website on Friday that the agency will "streamline" this waiver process. Under current policy, the processing time for this process can take years.
NHTSA Chief Counsel Peter Simshauser stated in the letter that with the changes to the process, NHTSA expects to be able to make decisions on most waiver applications within months, rather than years.
This move directly addresses one of the biggest regulatory hurdles Tesla faces in deploying its autonomous Cybercab. The model debuted last year at a Hollywood studio, lacking steering wheels and foot control devices, which means Tesla must rely on NHTSA's waiver to launch it on a large scale.
This model is a key part of Tesla's push into artificial intelligence and robotics, which Musk has previously stated are crucial to the company's future.
Boosted by this news, Tesla's stock price rose sharply, with intraday gains expanding to 1.6%, reaching a new daily high.
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