Tesla Stock Soars Following US Regulatory Changes

Tesla Inc. experienced a significant 10% stock increase on Friday, a direct response to the US Transportation Department's announcement. The department has decided to relax certain regulations, a move that allows American car manufacturers to fast-track their autonomous vehicle projects. Among the changes, carmakers will now enjoy exemptions from specific federal safety testing protocols, alongside a simplification of reporting requirements for autonomous driving systems.

India Market Entry on the Horizon?

Adding to the momentum, Tesla Inc.'s India office has begun refunding early Model 3 reservation holders. This action has sparked widespread speculation that the electric vehicle giant is gearing up for an entry into India's automotive market, recognized as the third-largest globally.

Stock Performance: By 12:41 pm ET, Tesla's shares had climbed 10.16%, trading at $285.88. Despite this surge, the company's stock has seen a 29.5% decline year to date.