Elon Musk says he will not sell more Tesla stock for about two years

Shares of Tesla rose 3% to $129.23 (£107.22) in after-hours trading on Thursday after an 8.9% drop in regular trading hours.

On Thursday, Tesla stocks plunged 9%, after Tesla started to offer deep, $7,500 discounts to US consumers, fuelling investor concerns about softening demand as the economy slows.

Asked whether he would bring in someone such as the venture capitalist David Sacks to run Twitter to allow him to focus on Tesla, Musk dodged the question and said Twitter was a relatively simple business.