Tesla stock rose Thursday. Elon Musk and trade were driving shares higher. Shares of the electric-vehicle maker added 0.4%, closing at $358.43, while the S&P 500 and Dow Jones Industrial Average rose 0.

Catching up to Waymo won't be easy because it has partnered with Uber Technologies, which operates the world's largest ride-hailing network with 170 million monthly users. It could take Tesla years to achieve that level of scale, especially if it builds its own mobility network from scratch.