Tesla has announced a significant price cut for its ‘Full Self Driving’ system, reducing it from $12,000 to $8,000. This represents a decrease of about a third and comes amid a challenging time for the electric vehicle manufacturer.
Despite CEO Elon Musk’s previous promise to have a fleet of robotaxis on the road by 2020, Tesla’s self-driving system still requires supervision from human drivers. The price reduction is part of a series of challenges facing the company, which also recently reduced prices on its Model Y, X, and S vehicles in the United States.
Tesla’s stock price has dropped by 40% this year, and the company announced plans to lay off 10% of its global workforce, including employees at its Gigafactory in Travis County. Despite these challenges, Tesla remains the largest private employer in the Austin area, with nearly 23,000 workers at its Gigafactory as of the end of 2023.
