Yahoo FinanceTesla FSD Will 'Get Absurdly Good,' Says Elon Musk
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said Wednesday that the automaker’s Full Self-Driving (FSD) software is set to become “absurdly good.”
What Happened: The billionaire entrepreneur made the comments while replying to a tweet that featured a demonstration of the self-driving software.
“Tesla AI/Autopilot engineering is awesome! There’s some great AI out there,” wrote Musk — further asking “but can it self-drive while playing Cyberpunk ... ?”
Musk has been keeping Tesla fans abreast of the latest developments on FSD. Late last month, he announced the Beta 5 version of the software on Twitter and revealed that the “improvement [in the software] should be significant.”
Why It Matters: This week, Loup Ventures Partner Gene Munster said that Tesla’s software is its big advantage over legacy auto firms such as General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F), and Volkswagen AG (OTC: VWAGY).
Next year, the automaker could realize $1.1 billion in revenue from FSD, over-the-air software updates, Supercharger network, and internet connectivity, as per Munster.
See Also: Tesla Rolls Out Full Self-Driving Beta Version, With A 'Slow' And 'Cautious' Approach
A price hike of $2,000 was announced by Musk in October for the FSD beta. The average selling price for FSD is $8,500 in 2020 and is slated to go up to $10,000 and $11,000 respectively by 2021 and 2022, as per Munster.
Price Action: Tesla shares closed 1.65% lower at $622.77 on Wednesday and fell 0.35% in the after-hours session.
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