In an escalation of Elon Musk’s fractured relationship with President Donald Trump and his Republican allies, the Tesla CEO has floated the idea of starting a new political party to rival the two-party system.

President Trump weighed in on Elon Musk's suggestion about creating a "new political party" in the wake of their rift.

Republicans fearful about potential consequences of a prolonged feud between US President Donald Trump and Elon Musk are urging the pair to call a truce.At a minimum, the explosion of animosity between the two powerful men could complicate the path forward for Republicans’ massive tax and border spending legislation that has been promoted by Mr Trump but criticised by Mr Musk.