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Tesla releases terms of Full Self-Driving transfer

Credit: Tesla

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In a shocking move, Tesla announced that it would allow the transfer of its Full Self-Driving suite between vehicles for the first time, only allowing it for the duration of the third quarter.

After a retail investor asked whether Tesla had potentially mulled the possibility of allowing a transfer of the FSD suite between vehicles owned by the same account, Musk responded with a surprising answer:

“So, we’re excited to announce that for Q3, we will be allowing the transfer of FSD. This is a one-time amnesty. So, it needs to be — you need to take advantage of it in Q3, but — or at least place the order in Q3 within reasonable delivery time frames. So yes, I hope this makes people happy. This is a one-time thing.”

Tesla has already activated the ability to transfer FSD between vehicles, and there is a list of terms the company is outlining to drivers before they make the commitment, according to a document.

The current FSD transfer program runs from July 20 to September 30, and when the transfer is complete, the FSD suite is forfeited on the vehicle it is being transferred from. It has to be transferred to a newly-delivered vehicle, and owners must take possession in Q3.

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Tesla outlines the following conditions to owners:

  1. Be the legal and registered owner of a Tesla vehicle that currently has Full Self-Driving capability included at the time of delivery of the new Tesla vehicle. The vehicle cannot be the subject of a pending cancellation of buyback request.
  2. Take delivery of your new titled Tesla between July 20, 2023, and September 30, 2023.
  3. Accept the forfeiture of the Full Self-Driving capability on your current Tesla vehicle. Alternatively, you can choose to trade-in your current Tesla vehicle altogether directly with Tesla when you purchase your new Tesla vehicle. Tesla will remove Full Self-Driving capability from your current Tesla vehicle up to one week before your scheduled delivery day for your new Tesla. During this process, your current vehicle will automatically reboot for a few minutes after put in park.
  4. The Full Self-Driving capability can only be transferred once and so cannot be transferred to another vehicle or to another person, even if the vehicle is privately sold. This offer cannot be combined with any other promotion, and is not redeemable for cash.
  5. Tesla reserves the right to change, modify, or terminate this offer at any time without prior notice.
  6. The forfeiture of the Full Self-Driving capability on your current vehicle is non-reversible after you take delivery of the new Tesla vehicle, or we remove Full Self-Driving capability from your current vehicle, whichever occurs first. This remains non-reversible even in the event that you cancel or reverse your purchase after you have taken delivery.
  7. Used vehicles and vehicles for commercial purposes are not eligible for this program.
  8. Tesla may remove the Full Self-Driving capability from your new vehicle if it determines in good faith that you have breached any of these terms or made any misrepresentations about Full Self-Driving on your current vehicle.
  9. This offer cannot be applied retroactively after the new Tesla vehicle is delivered.

Please email me with questions and comments at joey@teslarati.com. I’d love to chat! You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Quotes via Seeking Alpha

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Cybertruck

Tesla Cybertruck is getting a big security upgrade

“Cybertruck was not 100% carryover in execution like S3XY, so it required work.”

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Credit: Tesla

Tesla confirmed today that a massive Cybertruck security feature is on the way soon, and it is one that owners have been asking about for a long time.

Like all Teslas, Cybertruck has the excellent security feature known as “Sentry Mode.” The feature essentially turns your Tesla into a moving security camera, recording any event that happens nearby.

It has been used to solve crimes such as vandalism and burglary, and even used by police departments to solve other, high-profile crimes.

Tesla quietly added this extra Sentry Mode feature to deter vandals

However, Cybertruck has been missing one key feature of Sentry Mode: the use of the B-Pillar camera has not been enabled, leaving one of the most vandalized and targeted vehicles in the United States with a weakness.

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One person who has been vocal about it is Tesla Cybertruck enthusiast Greggertruck, who has been pushing for answers for months. He finally got his answer from Cybertruck Vehicle Program Manager Siddhant Awasthi:

“It will come soon! Cybertruck was not 100% carryover in execution like SX3Y so it required work. Team has finished work on this and just need to make sure it’s validated and runs reliably (which it should for its feature).”

It sounds as if Tesla’s issue was something they similarly experienced when deploying Full Self-Driving to Cybertruck. The other four Tesla vehicles were able to use FSD because they’re all relatively similar in ride height and overall functionality. They share tons of similarities.

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Cybertruck did not get FSD right away because Tesla still had to work on the differences between it and the other cars in the lineup. As Awasthi said, “Cybertruck was not 100% carryover in execution like S3XY, so it required work.”

Tesla Cybertruck FSD release expected for Sept, Park Assist to come first

It sounds as if Tesla is close to resolving some of the more intricate details of adding the functionality, and it was just a matter of time before it figured out the issue.

The release of the B-Pillar camera being active during Sentry Mode events on Cybertruck will likely come in a software update in the coming weeks.

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Investor's Corner

Tesla investors may be in for a big surprise

All signs point toward a strong quarter for Tesla in terms of deliveries. Investors could be in for a surprise.

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(Credit: Tesla)

Tesla investors have plenty of things to be ecstatic about, considering the company’s confidence in autonomy, AI, robotics, cars, and energy. However, many of them may be in for a big surprise as the end of the $7,500 EV tax credit nears. On September 30, it will be gone for good.

This has put some skepticism in the minds of some investors: the lack of a $7,500 discount for buying a clean energy vehicle may deter many people from affording Tesla’s industry-leading EVs.

Tesla warns consumers of huge, time-sensitive change coming soon

The focus on quarterly deliveries, while potentially waning in terms of importance to the future, is still a big indicator of demand, at least as of now. Of course, there are other factors, most of them economic.

The big push to make the most of the final quarter of the EV tax credit is evident, as Tesla is reminding consumers on social media platforms and through email communications that the $7,500 discount will not be here forever. It will be gone sooner rather than later.

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It appears the push to maximize sales this quarter before having to assess how much they will be impacted by the tax credit’s removal is working.

Delivery Wait Time Increases

Wait times for Tesla vehicles are increasing due to what appears to be increased demand for the company’s vehicles. Recently, Model Y delivery wait times were increased from 1-3 weeks to 4-6 weeks.

This puts extra pressure on consumers to pull the trigger on an order, as delivery must be completed by the cutoff date of September 30.

Delivery wait times may have gone up due to an increase in demand as consumers push to make a purchase before losing that $7,500 discount.

More People are Ordering

A post on X by notable Tesla influencer Sawyer Merritt anecdotally shows he has been receiving more DMs than normal from people stating that they’re ordering vehicles before the end of the tax credit:

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It’s not necessarily a confirmation of more orders, but it could be an indication that things are certainly looking that way.

Why Investors Could Be Surprised

Tesla investors could see some positive movement in stock price following the release of the Q3 delivery report, especially if all signs point to increased demand this quarter.

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We reported previously that this could end up being a very strong rebounding quarter for Tesla, with so many people taking advantage of the tax credit.

Whether the delivery figures will be higher than normal remains to be seen. But all indications seem to point to Q3 being a very strong quarter for Tesla.

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Elon Musk

Tesla bear Guggenheim sees nearly 50% drop off in stock price in new note

Tesla bear Guggenheim does not see any upside in Robotaxi.

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tesla showroom
Credit: Tesla

Tesla bear Guggenheim is still among the biggest non-believers in the company’s overall mission and its devotion to solving self-driving.

In a new note to investors on Thursday, analyst Ronald Jewsikow reiterated his price target of $175, a nearly 50 percent drop off, with a ‘Sell’ rating, all based on skepticism regarding Tesla’s execution of the Robotaxi platform.

A few days ago, Tesla CEO Elon Musk said the company’s Robotaxi platform would open to the public in September, offering driverless rides to anyone in the Austin area within its geofence, which is roughly 90 square miles large.

Tesla CEO Elon Musk confirms Robotaxi is opening to the public: here’s when

However, Jewsikow’s skepticism regarding this timeline has to do with what’s going on inside of the vehicles. The analyst was willing to give props to Robotaxi, saying that Musk’s estimation of a September public launch would be a “key step” in offering the service to a broader population.

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Where Jewsikow’s real issue lies is with Tesla’s lack of transparency on the Safety Monitors, and how bulls are willing to overlook their importance.

Much of this bullish mentality comes from the fact that the Monitors are not sitting in the driver’s seat, and they don’t have anything to do with the overall operation of the vehicle.

Musk also said last month that reducing Safety Monitors could come “in a month or two.”

Instead, they’re just there to make sure everything runs smoothly.

Jewsikow said:

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“While safety drivers will remain, and no timeline has been provided for their removal, bulls have been willing to overlook the optics of safety drivers in TSLA vehicles, and we see no reason why that would change now.”

He also commented on Musk’s recent indication that Tesla was working on a 10x parameter count that could help make Full Self-Driving even more accurate. It could be one of the pieces to Tesla solving autonomy.

Jewsikow added:

“Perhaps most importantly for investors bullish on TSLA for the fleet of potential FSD-enabled vehicles today, the 10x higher parameter count will be able to run on the current generation of FSD hardware and inference compute.”

Elon Musk teases crazy new Tesla FSD model: here’s when it’s coming

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Tesla shares are down just about 2 percent today, trading at $332.47.

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