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Tesla Set to Increase the Price of its Full Self-driving Option

It is also unclear if all new Tesla vehicles are getting the new computer

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Visitors inspect Tesla electric cars at Brussels Motor Show, Belgium, Jan. 18, 2019. VOA

Electric Vehicle (EV) maker Tesla is set to increase the price of its Full Self-Driving option from May 1.

“Please note that the price of the Tesla Full Self-Driving option will increase substantially over time,” Elon Musk, CEO, Tesla, tweeted late on Saturday.

Musk, however, didn’t provide a specific figure. While responding to a question on Twitter, he said the increase would be “something like” around the $3,000 plus figure.

The full self-driving currently costs $5,000.

Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

The announcement of price increase comes as Tesla is introducing its new full self-driving computer that entered production earlier this month.

It is also unclear if all new Tesla vehicles are getting the new computer.

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Tesla refuses to confirm this, but the automaker maintains that it will offer computer retrofits to all owners who have bought the full self-driving option, which Musk says will increase in price next month, according to the Electrek. (IANS)

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Musk-run Tesla Hits $100-bn Market Value for the First Time

In the third quarter, automotive revenues were $5.35 billion. Tesla said it expected to deliver between 360,000 and 400,000 vehicles this year, representing 45-65 per cent growth

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Elon Musk, a technology entrepreneur. Pixabay

Signalling an all-electric future is coming our way, Elon Musk-run Tesla has hit the $100 billion in stock market valuation for the first time.

Tesla shares were last up 1.4 per cent at $555 after trading was closed on Tuesday, reports CNBC.

The milestone came less than a month after Tesla’s stock crossed $420 — a price Musk tweeted last year which put him in much trouble.

The $100 billion valuation must stay for both one-month and six-month average in order to help Musk get first of 12 tranches of $346 million in a record-breaking pay package.

Tesla is currently valued more than Ford Motor and General Motors combined.

Tesla logo
A Tesla logo is seen in Los Angeles, California. VOA

Musk lost his position as Tesla Chairman after posting a notorious tweet in August last year that he was “considering taking Tesla private at $420. Funding secured”.

The US Securities and Exchange Commission (SEC) sued Musk over the tweet, saying he misled investors by claiming falsely he had lined up funding for the take-private transaction.

Musk reached a settlement with the SEC, agreeing to give up his role as Tesla Chairman and pay a $20 million fine.

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Tesla surprised Wall Street in October by registering a profitable third quarter with a total revenue of $6.3 billion riding on sales of its Model S, Model X and Model 3 electric cars.

In the third quarter, automotive revenues were $5.35 billion. Tesla said it expected to deliver between 360,000 and 400,000 vehicles this year, representing 45-65 per cent growth. (IANS)