Elon Musk is pivoting Tesla
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The company is also currently facing a 30-day suspension of its manufacturing and dealer licenses in California for deceptive marketing about Autopilot's capabilities.
Starting in February, Tesla will no longer offer the option to purchase Full-Service Driving for a one-time fee.
Tesla says it has 1.1 million Full Self-Driving subscribers. It's key to Tesla's future thesis, but controversies aren't slowing down.
Tesla will offer its Full Self-Driving software only through monthly subscriptions starting Feb. 14, ending the one-time purchase option.
Initially, when electric-car maker Tesla ( TSLA 3.45%) released its fourth-quarter results, the stock popped. But shortly after the market opened on Thursday, the stock's return for the day turned negative. This has added to the stock's weakness in recent weeks. As of this writing, the stock is down more than 11% over the past month.
Tesla Full Self-Driving leverages cameras, neural networks, and real-world testing to navigate traffic safely, advancing autonomous driving and self-driving car technology.
The move is an endorsement of Tesla CEO Elon Musk’s claims that the company’s vehicle technology is safer than human drivers.
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Tesla Now Charges Extra If You Want The Autosteer Software That Previously Came Standard
That means the Model 3 and Model Y are now less well-equipped than a base-model Toyota Corolla, which starts at $22,925.