Tesla stock rocketed on Monday on a report President-elect Donald Trump’s team will make rules for self-driving cars a priority. Citing people familiar with the matter, Bloomberg News reported that the transition team plans to make federal rules for fully self-driving vehicles one of the Transportation Department’s priorities.

Elon Musk was a central figure in the business world pushing for Trump's return to the White House in the lead-up to this month's elections.

Shares of Tesla are jumping in premarket trading Monday on a report that President-elect Donald Trump's transition team is planning a federal framework for fully self-driving vehicles.