IntelliFinance APP learned that Tesla (TSLA.US) stock price soared 14.7% on Wednesday, with a trading volume exceeding 0.148 billion shares, hitting an intraday 52-week high of $289.59, and the market cap is expected to surpass the $1 trillion mark. This surge is partially attributed to Trump's praise of Elon Musk as a "super genius" in his victory speech, boosting investors' confidence in Tesla's autonomous driving technology. Deepwater Asset Management analyst Gene Munster predicts that the Trump government may expedite the approval of Tesla's autonomous driving plan, which is crucial for technological advancement.

On Wednesday, Tesla's stock performed well, closing up 14.7% with a trading volume of 0.148 billion shares, hitting a 52-week high of $289.59 during the day, and the market cap is likely to enter the $1 trillion club. This surge in stock price is related to investor sentiment and confidence, especially after Trump praised Elon Musk as a "super genius" in his victory speech, making the market more optimistic about Tesla's investment prospects in the field of autonomous driving.

Deepwater Asset Management analyst Gene Munster believes that Trump's presidency may have a positive impact on Tesla's autonomous driving plan, as the federal government may expedite the approval of relevant plans.

He emphasized that since the regulatory challenges of autonomous driving are greater than the technological challenges, this is particularly important. Munster further analyzed that if Tesla can capture 50% of the US online car-hailing market by 2030, its revenue will increase by 20%, or about $5 billion.

The autonomous driving industry is gaining momentum. Last month, Tesla held the highly anticipated Robotaxi event, Chinese newcomer in autonomous driving cars, Pony.ai (PONY.US), filed for an IPO on the Nasdaq, and Uber Technologies (UBER.US) announced a series of notable autonomous driving car partnerships.

Furthermore, last week, Waymo announced that its Waymo One service is providing over 150,000 paid trips per week, with over 1 million miles driven autonomously, shocking the autonomous driving industry.

While the autonomous driving industry as a whole performed strongly, concerns in the market regarding government support for the electric car industry outweighed enthusiasm for autonomous driving approvals, leading to a 2.3% decline in the iShares Autonomous Driving Electric Car and Technology ETF (IDRV.USA).

Meanwhile, Uber Technologies saw a 0.3% increase in stock price, with Cruise's parent company General Motors (GM.USA) rising by 2.5%, and Waymo's parent company Alphabet (GOOGL.USA) rising by 4.0%.

Musk is a key supporter of Trump's 2024 re-election campaign and stands to benefit from his policies.

As a significant donor to Trump's campaign funds, Musk is expected to play an important role in the Trump administration. Trump has announced the establishment of a government efficiency committee led by Musk aimed at reducing federal spending.

It is worth mentioning that Musk, who owns the Starlink satellite broadband system and Tesla, is already a major contractor for the United States Department of Defense, with his influence expected to further expand. Despite Trump's opposition to certain policies, such as the solar and electric vehicle tax incentives in Biden's passed "Inflation Reduction Act", these policies have limited impact on Musk's business due to Tesla's large market sales volume. On the contrary, Trump's stance on reducing electric vehicle mandates may have a greater impact on Musk's competitors.

Groups within the electric car industry have expressed readiness to collaborate with Trump, despite his promise to reverse many of his predecessor's pro-electric vehicle policies. Triple D Trading trader Dennis Dick pointed out that Musk uses his relationship with Trump to hedge his bets and may receive preferential treatment from the Trump administration as a result. Trump's support, especially in obtaining approval from regulatory agencies for fully autonomous driving, may expedite approval for Musk.

Meanwhile, Tesla's competitors Lucid Group (LCID.USA) and Rivian Automotive (RIVN.USA) saw their stock prices fall by 5.3% and 8.3% respectively. Analysts suggest that Trump's commitment to imposing high tariffs on Chinese imports, especially electric cars, may shield Tesla from competitive pressure.

Musk's approach to managing conflicting interests in the automotive, aerospace, medical, construction, and AI industries is unclear, and it is also uncertain whether he will leverage these interests in the context of the Trump administration's deregulation. Mamta Valechha, an analyst at Quilter Cheviot specializing in non-essential consumer goods, indicates that positions overseeing regulatory relaxation and spending cuts will allow Musk to influence US policies on AI, space exploration, and electric vehicles, all areas where he has a direct interest.

Elon Musk may use his influence to reduce regulation on his business. He has been criticizing the federal government's scrutiny of his SpaceX rocket business and hopes to expedite approval for his self-driving technology. As a strong supporter of carbon-free energy, Tesla is a major supplier of solar energy systems and batteries.

However, Trump has promised to shut down the offshore wind power industry and revoke all unused funds under the "Inflation Reduction Act". Nevertheless, Republican-majority states have greatly benefited from this legislation, and Musk is also building his second U.S. electric car factory in Texas.