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.

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,

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.