Elon Musk said he’s carrying out his threat to form a new political party after his fissure with President Donald Trump, announcing the America Party in response to the president’s sweeping tax cuts ...

Tesla shares fell nearly 8pc yesterday after CEO Elon Musk’s plans to launch a new US political party reignited concerns about his commitment to the company’s future as it struggles with declining ...

The market value of Tesla crashed by US$15 billion after its CEO said he would form the America Party as investors pre-empt damage to the US EV brand.