The United States is set to relax regulations on autonomous vehicles, a move that led Tesla (TSLA, Financial) shares to surge, with the stock climbing up to 10.5% and currently maintaining a 9% increase. The regulatory changes aim to assist American companies in competing with Chinese manufacturers.
In other developments, Tesla's office in India has started refunding early reservation holders, sparking speculation about the launch of a new model in India. The refunds are being issued because the older Model 3 has ceased production; reservations for this model were made as far back as 2016. Tesla CEO Elon Musk is planning a visit to India later this year, amid ongoing trade agreement negotiations between India and the U.S., which may include discussions on reducing car import tariffs.
