Elon Musk says he'll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits.

Musk said on a conference call with analysts Tuesday that "now that the major work of establishing Department of Government Efficiency is done," that he will be "allocating far more of my time to Tesla" starting in May. Musk said he now expects to spend just "a day or two per week on government matters"