Shares in Tesla Inc. recently traded nearly 2% higher, even as the S&P 500 index dipped, as Chief Executive Elon Musk said he planned to cut back on his political spending and declared that the car company’s sales are improving.

DUBAI, United Arab Emirates — Billionaire Elon Musk said Tuesday he’s committed to being CEO of Tesla in five years’ time. The question came as Musk made a video appearance at the Qatar Economic Forum hosted by Bloomberg. A moderator asked: “Do you see yourself and are you committed to still being the chief executive of Tesla in five years’ time?”