Reports suggest that in his second term, former President Trump plans to ease regulations on self-driving cars. This potential shift has raised investor concerns regarding Tesla's (TSLA) robotic taxi network, which could disrupt the ride-hailing market. As a result, shares of Uber (UBER, Financial) and its competitor Lyft (LYFT) fell by more than 5%.
Uber has already integrated autonomous vehicles into its app through partnerships with companies such as Google’s Waymo, General Motors’ Cruise, and Avride. Lyft announced earlier this month that it is also forming autonomous driving partnerships, including one with technology developer Mobileye (MBLY).
Bloomberg reported that the transition team for the incoming U.S. president is prioritizing a federal framework for fully self-driving cars within the Department of Transportation.
