Tesla CEO Elon Musk said his role as a special government employee will take much less of his time beginning very soon. The company also said it is on track to add a lower-priced vehicle to its lineup within the next two months.

I'll continue to advocate for lower tariffs rather than higher tariffs, but that's all I can do,” Musk said about Trump’s tariffs.

Tesla's first-quarter earnings report itself was a disaster, but Musk gave investors some much-needed good news on the conference call.