Tesla’s shares have been in freefall ever since President Donald Trump took office, with Musk tied closely to the president’s agenda as the head of the newly created Department of Government Efficiency. The world’s richest man has spearheaded widespread cuts of federal agencies and their workforces.

Tesla (TSLA) has officially obtained a permit in California to operate an internal fleet for a ride-hailing service, but

The taxi service will initially operate with Tesla employee drivers only, use current-model vehicles, and won’t allow for driverless rides.