Tesla, Inc.'s TSLA full-self driving package is touted to be a major revenue earner for the company when mass adoption kicks in. The company is running several iterations of FSD beta testing in the U.S. in order to be make it as perfect as possible.
What Happened: It now appears that Canadian Tesla owners are looking ahead with much anticipation for the start of beta testing of the software suite in Canada. Musk said in a reply to a tweet by the handle @DriveTeslaca that about 60 cars are testing FSD internally in Canada. He also hinted at testing going wider this weekend.
We've had about 60 or so cars testing internally in Canada. Hoping to go wider this weekend.
— Elon Musk (@elonmusk) February 25, 2022
Musk had said in mid-January that FSD beta testing will be rolled out in Canada "cautiously" in the next two to four weeks. Later, on Feb. 1, Musk said in a tweet that limited rollout in Canada is planned this month.
He also stated that "safety is paramount" and therefore confirmation of no significant issues is required, given the slightly different road rules in Canada.
Why It's Important: Analysts have heightened expectations for the FSD package. Loup Fund's Gene Munster said in a mid-2021 note that FSD alone will be worth $850 billion for Tesla in a decade, compared to the company's then market-cap of $620 billion.
Musk announced in a tweet in January that the price of the FSD package will be hiked from $10,000 to $12,000 in the U.S., beginning Jan. 17. The monthly subscription, which is priced at $199, will be raised when the FSD suite is more widely released, he added. The FSD package, however, is facing criticism from some quarters for not living up to its name.
Critics point out that, even with so much improvisation, the current version does not make cars self-driving, and it isn't safe enough for public roads. Tesla shares closed Friday's session up 1.14% at $809.87.
Related Link: After Strong Q4 Deliveries, Does Tesla's Growth Hinge On These 2 Factors?
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