Elon Musk-led Tesla, the world’s largest electric vehicle maker, has retained its momentum leading up to Donald Trump’s inauguration on January 20.
The company, which started 2024 on a negative note, recovered in the later half of the year. This surge also found more power with Donald Trump’s victory in the United States election.
Post his victory in November, Musk, who is now a close ally of Trump, saw his company and by extension, his fortunes rise astronomically.
Despite a few troughs, the company has largely performed well at the equity markets. In the recent past, the trend only sharpened in its intensity.
In the most recent trading session, the shares of the makers of Model Y rose by a significant 3.06 per cent or USD 12.68, closing Friday with major gains. The shares had settled on USD 413.82 in the trading session before that.
The AI Traffic Control
This new rise in its value is being attributed to a new set of innovations from the company.
The EV maker unveiled a state-of-the-art AI-powered traffic control system. According to Tesla, this system is presently undergoing testing in a few areas.This advanced system uses real-time adaptive algorithms that interface directly with Tesla automobiles.
Reduce Traffic
The technology seeks to significantly reduce traffic. In order to optimise traffic flow and cut down on travel time, the system predicts and modifies traffic signals.
Previously Tesla shares soared when the company showcased its new set of products, including a robot.
The faith of investors in the company is further exemplified by the overall gains attained by the company in the past 6 trading sessions or the trade of the last week.
In the past five trading sessions, the shares of the company have zoomed by a mammoth 11.31 per cent or USD 43.34.
This took the overall of the company shares to USD 426.50 per piece. The 52-week-high of Tesla shares stood at USD 488.54.
