President-elect Donald Trump on Tuesday said Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead a new “Department of Government Efficiency" — which is not, despite the name, a government agency.

Elon Musk and Vivek Ramaswamy will join forces to lead a newly formed Department of Government Efficiency (or DOGE, for short), President-elect Donald Trump announced. But what will the department do?

Elon Musk is backing Donald Trump’s transition co-chair Howard Lutnick to lead the Treasury Department, touting the billionaire CEO of Cantor Fitzgerald as a potential secretary who “will actually enact change” from the most powerful economic post in Trump’s cabinet.

SpaceX is on a trajectory to remain the most dominant player in space launches for years to come as it makes strides with its heavy-duty Starship rocket program.

Choosing billionaire Elon Musk to be what President-elect Donald Trump calls “our cost cutter” for the U.S. government, is not the first time an American president has empowered a business tycoon to look for ways to dramatically cut federal regulations.

Getting rid of the federal rebate could devastate the electric vehicle industry, but Tesla CEO Elon Musk doesn't mind. Here's why.

Elon Musk has been at Trump’s side at Mar a Lago and in Washington since the election. How great is his influence? And could he wear out his welcome?

The department wouldn't be a department at all, but an outside group that can likely only make suggestions — unless Trump tries to axe current laws.