Elon Musk says Tesla's full self-driving (FSD) Beta is increasing its price soon beyond its current cost of $12,000.

The Tesla Chief Executive Officer (CEO) and founder disclosed the looming price hike of FSD Beta during the second quarter earnings call of the giant electric vehicle (EV) maker.

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 GRUENHEIDE, GERMANY - MARCH 22: Tesla CEO Elon Musk attends the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany.

Elon Musk Says Tesla Full Self-Driving Beta Price to Increase

As per a news story by Tech Crunch, the big boss of the renowned all-electric automaker himself, Musk, reveals that the price of its Full Self-Driving Beta is hiking in the future.

It is worth noting that the current price tag of the FSD Beta costs Tesla owners an additional $12,000.

Tesla EVs actually comes with a built-in driver assistance system that goes by the name Autopilot, Tech Crunch notes in its report.

However, the giant automaker also offers an additional FSD Beta option, enabling its owners to test out some of the features for its future autonomous driving system.

But for now, FSD Beta has yet to make Tesla vehicles fully autonomous as it still tests out its capabilities to do so.

So even if the all-electric car maker brands it as "Full Self Driving," it still does not allow Tesla EVs to go full self-driving. Instead, the FSD still requires a human person behind the wheel to take control whenever it is needed.

As such, contrary to the name of the Tesla FSD Beta, folks using its features should still put their utmost attention on the road.

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Tesla FSD Beta Price Increase

(Photo : SUZANNE CORDEIRO/AFP via Getty Images)

 CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party in Austin, Texas, on April 7, 2022.

According to a recent report by Teslarati, the ultra-rich Tesla CEO revealed during its recent earnings call with investors that the EV maker plans to increase the price of the FSD Beta.

But he notes that it might occur once the FSD hits its wide beta release. The online news outlet notes that by that time, all Tesla EV owners could get the feature once they requested and paid for it.

The Tesla boss further assures that the price of the FSD will still be "ridiculously cheap" even once it hikes.

Meanwhile, Tech Crunch notes that Musk failed to provide the exact figures for the increase. But the news outlet also says that the EV maker has previously hiked the price of the FSD by $2,000.

The FSD Beta initially debuted for only $10,000, but starting this year or last January, it became more expensive, raising the one-time payment to $12,000.

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Written by Teejay Boris