Tesla shares fell nearly eight per cent on Monday after CEO Elon Musk’s plans to launch a new U.S. political party reignited concerns about his commitment to the company’s future as it struggles with declining sales.

The billionaire Testla owner wants to create a new political party. The Rhode Island businessman and former gubenatorial candidate tried it first.

Elon Musk, the tech mogul, has launched the America Party, aiming to disrupt the US political landscape. This move follows his Starlink securing approval to provide high-speed internet in rural India.

Musk described his new party on his platform X as tech-centric, budget-conscious, pro-energy and centrist, with the goal of drawing both disaffected Democrats and Republicans. Musk has criticized the tax-cut bill, which is forecast to add about $3.4 trillion to the United States’ debt.

Top tech leaders like Elon Musk and Sam Altman are feeling unwelcome in the current two-party system. Meanwhile, Democrats—still reeling from President Donald Trump’s return to the White House on the back of his economic populism—are grappling with their own message. The turmoil points to a clash on competing visions over how to run the economy.

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