Tesla Inc. stock jumped more than 10% on Friday following the US Transportation Department's announcement to relax certain regulations, enabling American car manufacturers to accelerate their autonomous vehicle deployment. The revised regulations permit exceptions from specific federal safety testing protocols, while reporting requirements for autonomous driving systems will be simplified.

Further, Tesla Inc.'s India office is refunding early Model 3 reservation holders, fueling rumors that the electric vehicle pioneer is preparing to enter India's market, the world's third-largest automotive sector.

Tesla jumped 10.16% at 12:41 pm ET, going for $285.88. The automaker's stock is still down 29.5% in the year to date.