Automaker Tesla's market valuation has surpassed $1 trillion for the first time since October 2021.
The company's share price jumped nearly 30% after Donald Trump returned to power with his victory in the US presidential election. Tesla CEO Elon Musk has aided Trump's election campaign with donations worth at least $130 million aimed at securing favorable federal regulations for autonomous vehicles to help realize his robotic car ambitions.
Musk is getting richer and hopes to secure a key role in the Trump administration.
In doing so, Tesla joins an elite club of "big tech" companies such as Nvidia, Microsoft, Google and Apple, whose valuations are soaring due to growing investments in artificial intelligence.
At a Hollywood-style event in early October titled "We the Robot," Tesla unveiled its Robotaxi, a two-seater car with butterfly doors and wireless charging technology, without the traditional steering wheel and pedals.
However, the way forward for Tesla's pursuit of Robotaxi is unclear. The National Highway Traffic Safety Administration (NHTSA), the largest auto safety regulator in the U.S., has warned Tesla about its social media posts about full self-driving software, the underlying technology that powers future Robotaxi and current electric cars.
NHTSA has asked Tesla to "reconsider its communication" regarding the safety of the technology. | BGNES
