EV giant Tesla Inc TSLA has once again opened the option for customers to transfer its full self-driving capability from their older vehicle to the new.
What Happened: FSD capability is currently priced at $8,000, on top of the vehicle’s starting price. This creates a significant financial liability for the end customer.
However, a free FSD transfer allows existing FSD users to transfer it to their new Tesla. The new offer is available for customers who take delivery of a new Model 3, Model Y, Model S, or Model X between June 24 and August 31.
No Longer A One-Time Amnesty: In 2023, several Tesla owners raised requests that the company allow for transferring FSD software from their old Teslas to their new ones, citing its high cost. Company CEO Elon Musk acknowledged the requests and in July allowed for transferring it as a "one-time amnesty." The offer ended in the third quarter.
Since then, Tesla has time and again offered free FSD transfers. The company has also brought down the price of the technology significantly. It was priced at as much as $15,000 last year.
Why It Matters: Tesla has been trying to boost FSD takers in the past few months with incentives including a 30-day free trial of the software for vehicle owners who did not purchase it.
The move is aimed at demonstrating the abilities of the software which the company says will enable fully autonomous driving in due time.
Musk is now relying on vehicle autonomy to be the next big boost for the company amid dwindling EV deliveries and falling share value. As per Musk, doubling down on autonomy is a “blindingly obvious move” for the company with everything else like “variations on a horse carriage.”
Price Action: Tesla stock closed down 0.23% at $182.58 on Monday and fell another 0.22% after hours. The stock is down 26.5% year-to-date, according to data from Benzinga Pro.
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