Tesla, ranked first in US stock trading volume on Wednesday, closed up 0.53% with a transaction volume of $41.359 billion. US President elect Trump announced on Wednesday that Musk will collaborate with American entrepreneur Vivek Ramaswami to lead the proposed Department of Government Efficiency (DOGE), which will pave the way for dismantling government bureaucracies, cutting excess regulation, reducing wasteful spending, and restructuring federal agencies. There are also reports that Musk will attend Trump's Republican House meeting.