Tesla Inc 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 GM, Ford Motor Company F, and Volkswagen AG 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.
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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