In a move that has sparked widespread controversy, the Trump transition team has recently proposed to eliminate the requirement for the National Highway Traffic Safety Administration (NHTSA) to collect accident data on autonomous vehicles. The proposal, which is part of the team's 100-day plan for automotive policy, argues that the current regulations lead to an 'overcollecting' of data, putting an unfair burden on automakers, especially in the rapidly evolving autonomous vehicle industry.
The proposal has found support from Tesla and its CEO Elon Musk, who stands to gain significantly from the abolition of the report requirements. However, consumer protection advocates and those concerned about vehicle safety have expressed alarm at the potential consequences of such a move.
It remains to be seen whether the Trump administration will ultimately adopt the proposal to eliminate the report requirements.
The news sent Tesla stock surging 3.2% to a new high of $431.60 on Friday, exceeding $1.38 trillion in market value. Since the US presidential election on November 5th, Tesla's share price has risen by 71%, and has jumped 102% since the company published its quarterly earnings report on October 23rd.
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