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EV giant Tesla Inc (NASDAQ:TSLA) has extended the period of its offer to customers to transfer its full self-driving (FSD) capability from their older vehicle to the new one.
What Happened: Tesla initially said that customers who take delivery of a new Tesla vehicle between June 24 and August 31 will be able to transfer FSD capability from their current vehicle to the new one instead of paying $8,000 to have enabled in their new ride.
However, the company has now extended the offer for another month, until the end of September.
The extension of the offer would allow customers to purchase a Tesla and transfer their FSD purchase to it until the end of the third quarter, or for a sufficient number of days after the company reveals its robotaxi aimed at autonomous driving on Aug. 8. The robotaxi event is expected to be a testament to the company’s efforts toward autonomy.
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 2023 allowed for transferring it as a “one-time amnesty.” The offer ended in the third quarter of 2023.
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 but is currently priced at $8,000.
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 relying on vehicle autonomy to be the next big boost for the company’s valuation. As per Musk, doubling down on autonomy is a "blindingly obvious move" for the company with everything else like "variations on a horse carriage."
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Posted In: TSLA
