Musk hits brakes on his role in Washington

ELON Musk has vowed to spend less time in Washington slashing government costs in order to focus on his Tesla empire after a big drop in profits was revealed.

- Bernard Condon

The billionaire has overseen the newly created Department of Government Efficiency since January.

But he told analysts that "now that the major work of establishing the Department of Government Efficiency is done" he would be "allocating far more of my time to Tesla".

Mr Musk said he now expected to spend just "a day or two per week on government matters".