AUSTIN, Texas — Tesla is cutting the price of its "Full Self Driving" system by about a third, according to the Associated Press (AP).
The "Full Self Driving" system previously cost $12,000, but now costs $8,000.
Tesla CEO Elon Musk promised in 2019 that there would be a fleet of robotaxis on the road in 2020, but that has yet to happen. Additionally, Tesla's self-driving system can't actually drive itself and requires supervision from humans.
The price cut on the system comes during what seems to be a challenging time for the electric vehicle maker.
AP reports that last Friday, Tesla moved to slash $2,000 off the prices of its Model Y, X and S vehicles in the U.S. Prices for the Model 3 and the Cybertruck stayed the same – though the same day Tesla made the price cuts on the other models, it recalled 3,878 of its 2024 Cybertrucks.
Last Thursday, Tesla's stock dropped below $150 per share, wiping out most of its gains made over the past year. Tesla's stock price has dropped 40% so far this year.
Also last week, it was reported that Tesla plans to lay off 10% of its global workforce, including employees at its Gigafactory in Travis County.
Earlier in April, Tesla reported to Travis County that it finished 2023 with nearly 23,000 workers at the gigafactory, making it the largest private employer in the Austin area.