US media: Musk suspends plans to form a new political party, focuses on corporate affairs and maintains Republican relations

Elon Musk, the billionaire Tesla chief executive, is quietly putting plans for a new party on hold, according to people familiar with the matter. Mr. Musk has told allies he wants to focus on his company and is reluctant to alienate powerful Republicans by forming a third party that could siphon off Republican voters. Mr. Musk's gesture marks a shift in stance. Mr. Musk said early last month that he would form the so-called Party of America to represent US voters unhappy with the two main parties. In considering a new party, Mr. Musk has focused in part on maintaining his relationship with Mr. Vance, the US vice-president widely seen as a potential successor to the "MAGA" political movement. According to people familiar with the matter, Musk has been in touch with Vance in recent weeks, admitting to aides that if he continues to form a party, it will damage his relationship with the vice president.