Tesla was one of 2020’s hottest automotive models, recording a 700 percent rise in revenue throughout the year. Since 2014, Tesla CEO Elon Musk has been designing a fully self-driving (FSD) vehicle.
According to Mashable, more people may be able to test out this feature in 2021. Though the organization has only offered this technologically innovative technology to select customers. Instead of spending $10,000 to use the feature for 36 months, FSD would be sold on a monthly payment basis.
Subscription to Tesla complete self-driving mode
Elon Musk tweeted that at the beginning of 2021, Tesla’s FSD or autopilot feature will be offered for subscription. The subscription plan was previously announced by Musk and Tesla CFO Zachary Kirkhorn during the Q1 2020 conference call, who said this would encourage “customers to spread out the cost of ownership of FSD or subscription over time” since not everybody bought the feature in advance.
Tesla will enable every Tesla electric vehicle owner to pay for the auto-driving mode on a monthly basis, as Musk has said. This will open up the FSD feature to a broader clientele who might experience it, especially those who want their Tesla car to travel on the highway and some streets while sitting behind the wheel, doing nothing, but always paying attention on the lane.
However, by purchasing the feature when the vehicle is on a 72-month loan, customers will also be able to get a decent price as they would only spend $97 per month to use the function. While Tesla has still not announced its official monthly subscription fee, it is rumored to cost around $100 or more a month. Nevertheless, it is likely that Tesla drivers who rarely use their cars in FSD mode will welcome this development.
Although having the feature upfront would encourage consumers to get a discount, the car would have to pay less premiums and taxes for those who have not. Then, anytime they choose, they might choose to include the function.
Yet, considering the high price of the monthly membership, Tesla is hopeful that the feature would draw more subscribers. Tesla also said that as new functionality would be introduced, the package price could be boosted in the immediate future.
Tesla entered the S&P 500 list
The firm eventually joined the elite firms on December 14, despite struggling to make it to the S&P 500 list in July, which contributed to a significant slump in Tesla stocks.
Tesla will comfortably become the 2020 Index’s highest performing firm. Tesla securities are up over 700%, which is more than double the latest 2020 leading scorer. In November, after its S&P 500 inclusion was revealed, its market ms had risen by almost 65 percent.
Meanwhile, the second highest producing stock is actually listed by another S&P 500 newcomer. Etsy, an e-commerce company, is up by about 325 percent for 2020. On the other side, after its integration with Raytheon, Carrier Group is up by 225 points.