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 intends to focus more on his job as Tesla CEO, but it’s unclear if the billionaire will be able to solve a big problem of his own making: damage to its brand.

Tesla’s profit slid last quarter, as the company struggled to overcome a reputational hit from Chief Executive Elon Musk’s polarizing role in the Trump administration. Musk said he would devote less time to his work at the Department of Government Efficiency from next month,

Tesla announced quarterly earnings down 71 percent from a year earlier, amid tariff threats and protests over CEO Elon Musk’s role in pushing government cuts.

Tesla boss Elon Musk has pledged to "significantly" cut back his role in the US government after the electric car firm reported a huge drop in profit and sales for the start of this year. Musk has led the newly created advisory body - the Department for Government Efficiency (Doge) - since last year,