Elon Musk gave Tesla bulls plenty to believe in during Tesla's earnings call. Musk said he would reduce his efforts at DOGE and focus more on Tesla starting in May, but would "continue to spend a day or two per week on government matters.

Tesla execs said new cars launching this year will just be more affordable derivatives of existing cars, dashing investor hopes for all new models.

China’s halt this month on exports of magnets containing heavy rare earth metals has affected Tesla’s plans to manufacture Optimus robots.

Tesla sales have been slumping because of intense competition from China and Musk’s support of far-right causes, which has turned off some liberals and centrists.

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,