Tesla stock rises on report of Trump team looking to scrap autonomous crash reporting

Tesla (NASDAQ:TSLA) shares hit a new record on Friday amid a media report that the Trump transition team wants to scrap an order that requires automakers to report crashes involving self-driving systems.

The Trump transition team wants the incoming administration to drop a standing general order requiring carmakers to report crashes involving automated-driving systems, Reuters reported today, citing a document the news outlet has seen.

Tesla (TSLA) reportedly has the highest number of crashes reported to federal safety regulators under the order.

The Alliance for Automotive Innovation, which represents automakers like General Motors (GM), Toyota (TM) and Volkswagen (OTCPK:VWAGY) (OTCPK:VWAPY), has also criticized the order.

NHTSA has said the data it collects through this order has been critical in evaluating the safety of new automated driving technologies. It has received data on more than 2,700 crashes since the rule came into effect in 2021, playing a role in 10 investigations – including three into Tesla (TSLA) and probes into Google’s (GOOG) Waymo – and nine safety recalls.

Tesla shares rose as much as 3% on Friday, surpassing the all-time closing high on Wednesday. The stock now up over 70% since the U.S. Presidential election on November 5, and around 135% higher in the last six months.

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