Musk has not released an official party platform and has reported a false filing of the proposed political party to the Federal Election Commission. Here's what you need to know about the America Party and what this means for Musk's electric car company: Tesla.

Elon Musk said over the weekend he was starting a new “America Party.” That’s “exactly the opposite direction” that Tesla shareholders want, an analyst says.

By Joel Jose and Arsheeya Bajwa (Reuters) -Tesla shares fell nearly 8% on Monday after CEO Elon Musk's plans to launch a new U.S. political party reignited concerns about his commitment to the company's future as it struggles with declining sales.