Tesla plans to launch its Full Self Driving (FSD) technology in China and Europe early next year, pending regulatory approval. Although the term ‘Full Self Driving’ can be confusing, the company has clarified that it is a step towards greater autonomy.
This launch is strategic for Tesla, as it could generate significant additional revenue, with a subscription to the service costing around $8,000 a year in the US. In China, Elon Musk has had to address issues of data security and privacy, signing an agreement with Baidu for the mapping required for FSD.
The group hopes that the approval of FSD will help boost its revenues, particularly in China, which is its biggest overseas market. After reducing the price of its models, the company saw its market share fall from 10% to around 7% in the country at the end of 2023, and its sales fell by around 6% in the first eight months of the year. FSD approval is therefore crucial for Tesla as it seeks to generate additional revenue and consolidate its presence in China.
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