With Trump's election as President of the United States, his administration is expected to attempt to ease regulations on self-driving cars, a news that caused Tesla's stock price to rise by over 5% on Monday. Tesla's CEO Elon Musk has been actively promoting the launch of its 'Robot Taxi' service, aimed at competing with rivals like Waymo, a subsidiary of Google's parent company Alphabet. The market is optimistic about the Trump administration's intentions to lower the regulatory barriers for self-driving cars, resulting in excited investors buying Tesla shares.

Chinese autonomous vehicle company WeRide has made significant progress in California, obtaining a permit for self-driving vehicle testing that allows passenger rides on public roads, although currently it is not permitted to charge fees or offer services to the public. WeRide had previously obtained a permit in 2021 to test autonomous vehicles without passengers on public roads. However, the company's commercialization progress in California appears to be slow, with its autonomous driving mileage in 2023 far below that of competitor Waymo. WeRide is preparing to raise nearly $5 billion.