AsianFin -- Elon Musk pledged to shift more of his attention back to Tesla, telling analysts on a Tuesday conference call that with the "major work of establishing the Department of Government Efficiency" now complete, he will devote significantly more time to the electric carmaker starting in May.

“I’ll be allocating far more of my time to Tesla,” Musk said, adding that he expects to spend only “a day or two per week on government matters” going forward.

Tesla has faced mounting pressure as vehicle sales stumble and criticism over Musk's leadership of DOGE — a controversial, job-cutting initiative that has sparked nationwide debate. The Austin-based company posted a steep 71% plunge in first-quarter profits and a 9% decline in revenue.

“This is a big step in the right direction,” said Dan Ives, senior equity analyst at Wedbush Securities. “Investors wanted to see him recommit to Tesla.”

Tesla shares rose more than 5% in after-hours trading following Musk’s remarks, though the stock remains down over 40% year-to-date.