Tesla Q1 Down But Stock Jumps 18%

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Tesla's stock rocketed 18% last week after the US government slashed red tape for self-driving cars.

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Transportation Secretary Sean Duffy unveiled rules that clear the path for cars without steering wheels - perfect timing for Tesla's robotaxi dreams.

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Duffy framed the changes as critical for competing with China: "We're in a race to out-innovate, and the stakes couldn't be higher."

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Elon Musk doubled down on Tesla's autonomous taxi service launching in Austin this June, using modified Model Y vehicles with Full Self-Driving software.

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The CEO made a bold prediction: "Millions of Teslas operating fully autonomously in the second half of next year."

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Behind the scenes, Tesla's secretive "Project Rodeo" deploys hundreds of test operators in Austin to fine-tune the self-driving system.

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Musk promised investors he's scaling back his political activities: "Starting next month, I will be allocating far more of my time to Tesla."

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Despite the stock surge, Tesla's financials remain concerning with a 20% year-over-year drop in automotive revenue and 71% plunge in net income.

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Even with federal support, Tesla still faces major technical challenges and regulatory hurdles across different states before robotaxis become reality.

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