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Elon Musk has said the time he spends with Donald Trump’s Department of Government Efficiency (Doge) will “drop significantly” from May and he will allocate more time to Tesla.
It comes after first-quarter profits at Tesla sank as the company grapples with falling sales, partly due to President Trump’s tariffs.
The company has faced a backlash over Musk’s leadership of a federal government jobs-cutting group that has divided the country.
Tesla said on Tuesday that quarterly profits fell by 71% to $409m.
Its revenue fell 9% to $19.3bn between January and March, below Wall Street’s forecast.
Tesla’s stock has fallen more than 40% this year but rose slightly in after-hours trading.
Its stock value has been battered by the overall financial market turbulence caused by the global trade war tariffs sparked by stiff competition from Chinese EV maker BYD, and concern over Mr Musk’s ability to give Tesla the attention it requires.
Mr Musk’s role as chief executive of the company was among the most common questions shareholders were asking about in a question-and-answer portal ahead of an investor call on Tuesday evening.
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