Elon Musk zooms in on the role of the gate to prioritize Tesla; EV maker stocks fall | Here’s what he says

Tesla CEO Elon Musk said Tuesday that he will shrink significantly from next month with the Department of Efficiency of President Donald Trump. He also promised to spend “more” time in Tesla’s office.

“I think my time allocation to Doge will drop significantly from about next month,” Musk said in a call with analysts on Tuesday.

The stock rose 3.8% in 6:14 p.m. in extended trading in New York, cutting some early earnings. His remarks sparked a rally after his initial lukewarm reaction to Tesla’s first quarter results. The company reported adjusted earnings of 27 cents per share in the first quarter, below average analyst estimates, while omitting earlier forecasts that sales will resume growth throughout the year.