Reportedly, it turns out that the political outfit has officially registered with the Federal Election Commission (FEC). Called 'America Party (AMEP),' the new organization registered with the FEC on July 6 under Filing FEC-1898441 and FEC Committee ID-C00910323.

Elon Musk isn't done with politics just yet. Days after the SpaceX and Tesla CEO threatened to form his own political party as an alternative to America's "Democrat-Republican uniparty," Musk has announced his pledge to do so.

The Tesla CEO says both parties have failed and claims The American Party will fight government bloat, attract disillusioned Democrats, and shake up the system.