Musk Lobbies Washington to Clear Way for Self-Driving Cars - Bloomberg

Musk Lobbies Washington to Clear Way for Self-Driving Cars - Bloomberg

Tesla Inc. (TSLA) CEO Elon Musk is actively lobbying U.S. lawmakers to establish a regulatory framework for autonomous vehicles. According to a Bloomberg report, Musk and his team have been directly contacting Congress members to rally support for this initiative [1].

Musk has been involved in discussions about revising a bill introduced on May 15, which aims to establish a basic framework for autonomous vehicles. The options under consideration include fast-tracking the bill or proposing a more comprehensive measure before the July 4 recess, according to sources familiar with the matter [1].

During a Friday press conference at the Oval Office, Musk confirmed his continued advisory role to President Donald Trump, despite stepping down from the Department of Government Efficiency. The White House deputy press secretary, Harrison Fields, emphasized that the administration’s policy is focused on achieving the president’s agenda [1].

The push for federal support on autonomous vehicles is crucial as Tesla prepares to launch its Robotaxi service in Austin on June 12. The company has accelerated its Full Self-Driving (FSD) testing, aiming to meet this deadline. However, the launch remains tentative, dependent on regulatory approvals. Tesla also intends to introduce Cybercabs, pending federal approval for vehicles without steering wheels or pedals [1].

Analyst Dan Ives of Wedbush Securities views Musk’s departure from a White House role as a positive shift, allowing Musk to concentrate on Tesla’s autonomous vehicle ambitions. This renewed focus is seen as a promising development for shareholders [1].

Despite the enthusiasm, some industry experts, like Gary Black of Future Fund LLC, express concerns over unsupervised autonomous driving. Black has repeatedly cautioned investors about the risks associated with such technology, particularly as Tesla gears up for its upcoming launch [1].

References:

[1] https://www.benzinga.com/news/topics/25/05/45708285/elon-musk-lobbies-for-support-from-lawmakers-on-legislation-for-self-driving-cars-report
[2] https://www.gurufocus.com/news/2899669/elon-musk-advocates-for-legislation-on-autonomous-vehicles-tsla