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

The expiry of federal tax credits will weigh on the pockets of Tesla consumers as several of the company’s best-selling models are currently eligible for it.

Elon Musk has officially launched a new political movement, the "America Party," following the repeal of the $7,500 federal EV tax credit.

But Tesla's troubles, though levered to Musk, may be deeper than Musk's distractions, such as politics, gaming, and colonizing Mars. A record fourth quarter delivery report in January seemed to indicate all was well with Tesla, but it doesn't tell the full story.

Elon Musk realized too late how badly Tesla would be hurt by Trump’s Big Beautiful Bill, according to former and current Tesla executives who now give more details about the impact on the company.

Elon Musk’s plan to create a new political party puts him in the company of a long line of business and political titans looking to upend the two-party system that has dominated U.S. politics since al

Tesla stock is sliding on Monday after CEO Elon Musk's latest foray into politics, and Wall Street is growing concerned over the loss of EV tax and regulatory credits stemming from Trump's "One Big Beautiful Bill.