Tesla (NASDAQ: TSLA) stock raced ahead by 7% through 10 a.m. ET Monday after Bloomberg reported that the incoming Trump administration wants to enact "a federal framework for fully self-driving vehicles.

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.

Tesla stock is up 37% in volatile post-election trading as Wall Street digests a complicated web of Trump policies which may impact the Musk-led electric vehicle company.

Tesla shares rise after a report says President-elect Trump will seek to set a national standard for self-driving cars.