Trump team seeking to ease self-driving car rules, Bloomberg says

Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities, David Welch and Allyson Versprille of Bloomberg report, citing people familiar with the matter. If new rules enable cars without human controls, it will directly benefit Tesla (TSLA) and its CEO Elon Musk, Bloomberg points out. Current federal rules pose significant roadblocks for companies looking to deploy vehicles without steering wheels or foot pedals in large quantities, which Tesla plans to do, the journalists add. While the Transportation Department can issue rules through the National Highway Traffic Safety Administration that would make it easier to deploy autonomous vehicles, an act of Congress would clear the way for mass adoption of self-driving cars, according to Bloomberg. A bipartisan legislative measure being discussed in early stages would create federal rules around autonomous vehicles two sources told Bloomberg. One candidate under consideration for Transportation secretary is Emil Michael, a former Uber (UBER) executive who has spoken with Trump’s team and potential staffers, they said. Shares of Tesla are up 8% to $346.05 in pre-market trading.