Tesla changes meaning of 'Full Self-Driving', gives up on promise of autonomy
5 days ago
- #Tesla
- #Corporate Governance
- #Autonomous Vehicles
- Tesla has redefined 'Full Self-Driving' (FSD), abandoning its original promise of unsupervised autonomy.
- Since 2016, Tesla claimed all its vehicles would achieve unsupervised self-driving, a promise unfulfilled as of 2023.
- Tesla sold FSD packages for up to $15,000, promising full autonomy via software updates, but vehicles lack necessary hardware.
- Elon Musk discussed hardware upgrades for older vehicles but without a concrete plan.
- Tesla now markets 'Full Self-Driving (Supervised)', clarifying it does not make vehicles autonomous.
- Tesla's board proposed a new CEO compensation package for Musk, potentially worth up to $1 trillion in stock options, tied to milestones like '10 Million Active FSD Subscriptions'.
- The definition of FSD in the compensation package is vague, allowing current supervised FSD to qualify, diverging from initial promises of full autonomy.
- Tesla has reduced FSD prices by $7,000 from their 2023 high, coinciding with declining sales.
- Critics argue Tesla's FSD marketing versus legal definitions constitutes false advertising or a bait-and-switch.