Billionaire owner Elon Musk has made it clear that Optimus humanoid robots and robotaxis are the future of Tesla, but these are pricey and risky bets – and Tesla could use an extra boost of cash.

Tesla has said it will build cheaper cars and win approval for its self-driving software in Europe this year after seeing sales fall at the sharpest rate in at least a decade. Elon Musk's electric car firm told investors it had started "first builds of a more affordable model in June" while posting a slump in car deliveries and shrinking profits.

President Trump on Thursday denied wanting to harm tech billionaire Elon Musk’s businesses, amid questions over whether he supports federal agencies working with the Tesla CEO’s companies.

Donald Trump has rejected claims that he is responsible for Tesla’s decline. The US president posted on his Truth Social platform after Elon Musk predicted the company would have a “rough” few months as the White House unwinds electric car subsidies.

Donald Trump offered support to his one-time ally Elon Musk in a surprising post as shares in the electric vehicle company crumbled on Wall Street.