Rule changes announced by the Trump administration last week could allow automakers to report fewer crashes involving self-driving cars, with Tesla potentially emerging as the main beneficiary.

KEY TAKEAWAYS Tesla shares jumped Friday, extending their recent rally after CEO Elon Musk said he would spend more of his time focusing on Tesla, as the Trump administration moved to loosen rules around self-driving cars.

Transportation Secretary Sean Duffy said the U.S. is in a race against China and U.S. automakers need less red tape.

The stock got a fresh boost on Friday as the US Department of Transportation announced looser rules for self-driving cars.

Elon Musk intends to focus more on his job as Tesla CEO, but it’s unclear if the billionaire will be able to solve a big problem of his own making: damage to its brand.

By Akash Sriram and Abhirup Roy (Reuters) -Tesla investors breathed a sigh of relief after CEO Elon Musk said he would refocus his attention on the electric automaker, but that promise did not entirely dispel worries that his right-wing shift had irrevocably damaged the company's brand.