Tesla CEO Elon Musk on Tuesday told investors that he would dedicate more time to the company next month, and scale back the amount of time he spends on the Department of Government Efficiency (DOGE).

The announcement occurred after the company announced that its revenue had dropped significantly in the first quarter of 2025, along with its profits. The company's revenue has plummeted 9% while its profits dropped 71%, according to the Associated Press. The issues come as it struggles to sell vehicles due to protests over DOGE cuts to the federal workforce. 

The billionaire said he will reduce the amount of time he spends working for the federal government to "a day or two per week," and the rest will be devoted to fixing the electric vehicle company. 

"Starting probably next month, in May, my time allocation to DOGE will drop significantly," Musk stated, per CBS News. "Starting next month, I'll be allocating far more of my time to Tesla."

Musk is already supposed to leave government service at the end of May because of his status as a "special government employee," and said in March that he was on track to achieve his goal by the May 30 deadline.

Tesla also reconfirmed its plans to roll out a cheaper version of one of its most popular vehicles in the first half of the year, to launch a paid driverless robotaxi service in Austin in June, and predicted most of the fleet will be ready by next year.

“There will be millions of Teslas operating autonomously in the second half of the year,” Musk said. “Can you go to sleep in our cars and wake up at your destination? I’m confident that will be available in many cities in the U.S. by the end of this year.”

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.