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The price of the "Full Self-Driving" feature will increase by 25% next month.
The price of FSD will go up to $15,000 in North America on September 5th, according to the CEO of the electric car company. He said that the latest version of the software has begun testing with some people, and that the new version is expected to be released soon.
He said that the build was a step forward.
Those who buy one of Musk's electric vehicles before Sept. 5 will get a discount.
It wasn't clear if the price of its subscription would be raised.
Since being introduced for $5,000 in 2019, the price of the automated driver assistance feature has gone up to $12,000 last September. The Model 3 starts at $47,000 and the Model Y starts at $66,000.
Rivian eliminates the less expensive electric pickup.
Despite its name, the "Full Self-Driving" feature doesn't offer fully autonomously driving, and the company has warned drivers to keep their hands on the steering wheel. The California Department of Motor Vehicles accused the company of false advertising over how it promotes its features, and said that the company's statement did not cure the problem. If not addressed, the complaint could result in the suspension or revocation of the manufacturing and dealing licenses of the company.
According to the National Highway Traffic Safety Administration, 70% of the 400 crashes that have been reported over the last 11 months have involved automated driver assistance features. The data was incomplete and needed further study.
Over the past three months, the company's shares have surged 34%, but are still down 16% year to date. Over the past three months, the S&P 500 has gained 8%, but is down 9% this year.