Elon Musk has unveiled a new U.S. political party, the America Party, aiming to appeal to disillusioned Democrats and Republicans.

Elon Musk has hinted that his recently formed America Party could back a U.S. presidential candidate in a future election, though the immediate focus will be on gaining seats in Congress.

US billionaire entrepreneur Elon Musk said Americans gave Republican candidate Donald Trump a mandate for change during the presidential election.