Tesla's Stock Soars Following US Regulatory Changes

In a significant boost to Tesla Inc., the company's stock leaped over 10% this Friday. This surge came right after the US Transportation Department announced the relaxation of certain regulations, paving the way for American car manufacturers to fast-track their autonomous vehicle projects. The updated rules introduce exceptions to some federal safety testing requirements and streamline the reporting process for autonomous driving systems.

India Market Entry Rumors Gain Traction

Adding to the excitement, Tesla's India office has started refunding early Model 3 reservation holders. This move has sparked widespread speculation that the electric vehicle giant is gearing up to make its debut in India's automotive market, which ranks as the third-largest globally.

Stock Performance Update: By 12:41 pm ET, Tesla's shares were up by 10.16%, trading at $285.88. Despite this positive momentum, the automaker's stock has seen a 29.5% decline year to date.