TESLA'S market value closed above the $1 trillion mark in a sharp rally on Friday, on expectations that CEO Elon Musk's companies will get favorable treatment under President-elect Donald Trump for his extensive support during the poll campaign.The electric automaker's shares jumped 8.2 percent to $321.22, catapulting the company's valuation above the trillion-dollar mark for the first time in more than two years.
The billionaire could push for favorable regulation of autonomous vehicles that Tesla plans and also get the US National Highway Traffic Safety Administration to hold off on potential enforcement actions involving the safety of Tesla's current driver-assistance systems, a source had told Reuters.Musk has focused on self-driving vehicle technology, ditching plans to build an economy car priced at under $30,000.