Musk announced he will focus more on Tesla after establishing the Department of Government Efficiency, expecting to spend only a day or two weekly on government matters. Tesla reported a 71% profit drop and a 9% revenue decline, prompting investor concern. Despite this, shares rose 5% after Musk's commitment to Tesla. The company plans to launch a cheaper Model Y and a driverless robotaxi service, although analysts express skepticism about the safety of the technology. Tesla faces increased competition from Chinese EV makers and challenges from tariffs and regulatory scrutiny.