The electric-car maker, the main source of the mercurial billionaire’s wealth, is relying on China to stay profitable as sales sink elsewhere.

Vivek Ramaswamy denied rumours of a rift with Elon Musk, a week after the Indian-origin entrepreneur quit the Department of Goverment Efficiency (DOGE) and teased an Ohio governor's bid, saying he would be running for elected office soon.

Since taking office for his second term, President Donald Trump has issued a number of orders which included establishing the Department of Government Efficiency, also known as DOGE. This program, led by Musk, has caused a stir by going through government programs to validate funding.