Tesla nasdaq Tsla Elon Musk Unveils Game changing Move Stock Jumps

Tesla (NASDAQ: TSLA): Elon Musk Unveils Game-Changing Move, Stock Jumps

Tesla (NASDAQ: TSLA) stock rose 3% on Tuesday following a pivotal announcement from CEO Elon Musk.

Elon Musk, the CEO of Tesla (NASDAQ: TSLA), has revealed plans to offer a one-month free trial of the electric vehicle (EV) maker’s Full Self-Driving (FSD) system in a bid to stimulate sales amidst a slump in industry-wide demand for EVs.

Taking to X, the social media platform he owns, Musk announced, 

“All US cars that are capable of FSD will be enabled for a one-month trial this week.”

In addition, Musk reportedly instructed employees in a memo that newly purchased vehicles in North America must now install and activate FSD as a mandatory requirement. In addition, buyers must undergo a brief test drive to familiarize themselves with the system before leaving with their Tesla.

This strategic move comes as Tesla seeks to bolster sales amidst a downturn in demand for EVs across the industry. Tesla has also incentivized purchases by offering 5,000 free hours of Supercharging for customers who take delivery by month-end and 10,000 free hours for owners who trade in their existing Tesla for a new one.

Tesla (NASDAQ: TSLA) Stock Reaction

TSLA stock jumped 2.92% to close at $177.67 on Tuesday. The traders had exchanged hands with 112,732,470 (112.73 million) shares compared to the average daily trading volume of 103.21 million.