President Donald Trump is reportedly considering selling his Tesla following his public spat with billionaire Elon Musk, in which he described the electric car innovator as "crazy".

A senior White House official told NBC News that the President is considering selling, or even giving away, his Tesla Model S, which he purchased in March.

The red Tesla Model S has been pictured parked on West Executive Avenue near the White House and the Eisenhower Executive Office building in Washington D.C.

At a controversial sales event at the White House almost three months ago, Donald Trump praised Tesla CEO Elon Musk, who displayed a number of electric vehicles.

Donald Trump is believed to be keen on selling the Tesla Model S he purchased from Elon Musk in March

The President said that Musk had built an impressive American company, adding that Musk was a "truly great American".

The South African billionaire returned the favour, thanking the President for his support and showed Trump some of the key features of the Tesla vehicles.

However, since then, the relationship between Trump and Musk has soured, with the Tesla CEO accusing the President of being in the Epstein files and even calling for him to be impeached.

The war of words has sparked a bitter feud between the former allies, as Musk targeted the US Government's spending bill.

Donald Trump's Tesla Model S, which is parked outside the White House, could be sold

The President had blamed Musk for "going crazy" over the bill, as it planned to remove a $7,500 (£5,542) tax credit for electric vehicles.

Posting on his own social media site X, formerly known as Twitter, Musk dismissed Trump's claims that he knew the EV grant would be cut "from the beginning".

He added: "Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill.

"In the entire history of civilization, there has never been legislation that both big and beautiful. Everyone knows this!

"Either you get a big and ugly bill or a slim and beautiful bill. Slim and beautiful is the way."

Despite being given a "Key to the White House", Musk stepped down from his controversial role as head of the Department of Government Efficiency (DOGE).

His involvement with the cost-cutting venture was heavily criticised by politicians and the voting population, as many accused him of slashing budgets for vital projects.

Musk has now hinted at starting a new political party that "represents the 80 per cent in the middle", which he called The America Party.

Elon Musk and President Donald Trump posed with a Tesla Cybertruck outside the White House in March GETTY

In the last few days, the stock value of Tesla has dropped a shocking $153billion (£112billion), with Musk's personal wealth falling $34billion (£25billion).

Trump could target Musk further by saying he "would look at everything" in relation to cancelling Musk's government contracts.

Despite the far-reaching effects of the dispute between the two billionaires, Trump said he has no plans to speak with Musk, but added that he hopes "he does well with Tesla".

Reports suggest Musk would be interested in speaking with the President to smooth over the situation, although it is unclear whether this will come to fruition.