Shares in Tesla Inc. recently traded nearly 2% higher, even as the S&P 500 index dipped, as Chief Executive Elon Musk said he planned to cut back on his political spending and declared that the car company’s sales are improving.

Elon Musk, who spent more than $250 million dollars on Donald Trump’s election campaign, has said he plans to reduce political spending, stating "I’ve done enough".

Doha: Tesla chief Elon Musk said on Tuesday the electric vehicle company s sales are doing well following a slump after the world s richest person