Tesla profits have taken a plunge with the stock tumbling by more than 40 percent this year. Meanwhile, Elon Musk, on his company's earnings call on Tuesday, said that he will be stepping back from the White House DOGE office in May.

Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits. Musk said on a conference call with analysts Tuesday that “now that the major work of establishing Department of Government Efficiency is done,

Tesla’s profits just dropped — big time. The company reported a 71% drop in profit compared to last year. That’s their biggest year-over-year fall in a long time. So what happened? Sales were weaker than expected.

The automaker's shares rose nearly 8% on Wednesday after Musk said he would cut back his work for President Trump to a day or two per week.

Elon Musk has been called a Moonshot Master, the Edison of Our Age and the Architect of the Future, but he's got a big problem at his car company and it's not clear he can fix it: damage to its brand.

Tesla investors breathed a sigh of relief after CEO Elon Musk said he would refocus his attention on the electric automaker, but that promise did not entirely dispel worries that his right-wing shift had irrevocably damaged the company's brand.

Tesla employees are testing autonomous EVs in Austin and San Francisco ahead of a ride-hailing service rollout in Austin this summer.

Tesla Inc. has expanded its testing of a ride-share app to employees in Austin, as the company pushes toward a June launch of an autonomous version of the service.