By Joel Jose (Reuters) -Tesla shares fell nearly 7% in premarket trading on Monday after CEO Elon Musk's plans to launch a new U.S. political party raised investor doubts about his focus on the electric automaker's future.

The feud between President Donald Trump and Tesla CEO Elon Musk, which has weighed on the shares of the latter’s electric-vehicle venture, Tesla, Inc. (TSLA), continues to play out. In his latest salvo,

Tesla's stock drops as Elon Musk announces the launch of his 'America Party,' raising concerns among investors about his commitment to the automaker. The conflict with Trump and Musk's political ventures have been attributed to weakening shareholder confidence in Tesla's future performance.