From Musk's ties to Trump to a brighter outlook for sales growth, here's what investors see working in Tesla's favor heading into 2025.

Tesla’s shares increased by more than 3.7% to just below $416 as of around 1:10 p.m. EST, surpassing the stock’s all-time intraday record high of $414.50 set on Nov. 4, 2021,

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The automaker is folding Cruise, its San Francisco-based subsidiary, into its in-house efforts to develop autonomous driving for personal vehicles.

General Motors has announced that it will stop funding the development of the Cruise self-driving taxi. The company says it will now "refocus autonomous driving development on personal vehicles". GM also pointed to the increasingly competitive robotaxi market as a reason for the move.