Tesla CEO Elon Musk mentioned that the firm would lift the price of its Full Self-Driving software from $10,000.00 to $12.000.00.
Musk posted the announcement on Twitter last Friday. He indicated that the price adjustment would only be applicable for customers in the United States starting January 17.
The 20.00% hike came less than two years after the company raised the FSD prices to $10,000.00 from $8,000.00 in 2020.
In addition, he mentioned that the monthly subscription cost would elevate when the package goes to wide launch.
At the same time, he hinted at a new release of FSD Beta, an invitation-only program. This offers more advanced features to those drivers who comply with Tesla’s qualifications.
It is a driving-assistance system that automatically changes lanes and makes turns. However, the upgraded features do not make the vehicles fully autonomous.
The leading electric maker did not disclose in its earnings reports how many of its customers pay for FSD up-front.
In the stated case, it is uncertain how the price hike in the US could boost the firm’s margins.
Tesla FSD vs Autopilot
Meanwhile, Tesla’s standard driver assistance package, marketed as Autopilot, comes with all its new vehicles that make driving safer.
The Autopilot feature has automatic emergency braking, forward collision warning, lane-keeping, and adaptive cruise control.
Correspondingly, this model matches the speed of your car to the surrounding traffic.
On the other hand, Tesla’s Full Self-Driving Capability is a premium package that includes all Autopilot functions.
In addition, it has more sophisticated features like automatic lane-changing, stop light recognition, and smart summon.
This software lets drivers call their car using their smartphone from a parking spot to pick them up.
The National Highway Traffic Safety Administration is now examining various details of the FSD’s development and technology.
Tesla’s stock closed at 3.54% or 37.74 points to $1,026.96 per share last Friday. In the after-hours trading, it slightly declined 0.01% or 0.06 points to $1,026.90.