The FSD Transfer: A Financial Relief for Customers

In a move that has sparked excitement among electric vehicle (EV) enthusiasts, Tesla Inc (NASDAQ:TSLA), the EV giant, has once again enabled customers to transfer its Full Self-Driving (FSD) capability from their older vehicle to a new one.

The FSD capability, currently priced at $8,000, adds a significant amount to the vehicle’s starting price, creating a substantial financial burden for the end customer. However, Tesla's decision to allow a free FSD transfer provides existing FSD users with the opportunity to transfer it to their new Tesla. This 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.

Back in 2023, several Tesla owners raised requests for the company to allow for transferring FSD software from their old Teslas to their new ones, citing its high cost. Responding to these requests, Tesla CEO Elon Musk allowed for transferring it as a "one-time amnesty" in July. The offer ended in the third quarter.

Since then, Tesla has repeatedly offered free FSD transfers. The company has also significantly reduced the price of the technology, which was as high as $15,000 last year.

Tesla has been striving to increase FSD adoption in recent months, offering incentives such as a 30-day free trial of the software for vehicle owners who did not purchase it. This move is aimed at showcasing the software's capabilities, which the company claims will enable fully autonomous driving in the future.

Amid declining EV deliveries and falling share value, Musk is now banking on vehicle autonomy to be the next major boost for the company. According to Musk, doubling down on autonomy is a “blindingly obvious move” for the company, with everything else being “variations on a horse carriage.”

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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Source: MSN