After significantly reducing the price of its electric vehicles (EVs), Tesla has now slashed the price of its “full self-driving” (FSD) beta software by 20 per cent.

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The Tesla FSD beta software now costs $12,000, a $3,000 or a 20 per cent decrease.

Tesla owners can buy FSD at reduced price which includes all the “enhanced autopilot” features as well as the ability to detect and (ideally) stop at traffic lights and stop signs.

In July, Musk offered the first-time Tesla customers a chance to transfer the FSD beta software to another vehicle as a “one-time amnesty.”

Tesla owners who have purchased the FSD package can transfer that to another new car by September 30.

The only details provided by Musk was that it would a one time offer and only applicable if you place your order before the end of Q3.

Another requirement is that when people place the order for a new Tesla car, they must add FSD Capability to the order.

Those who will get this offer will need to purchase a new Tesla and take delivery by September 30.

Last month, Musk live-streamed a drive through Palo Alto, California holding a smartphone, which was an illegal act by law, showcasing the car's self-drive functionalities.

However, Musk was forced to stop his “Full Self Driving” system from running a red light partway through the livestream.

During the drive, Musk chatted with his passenger who was Tesla's head of Autopilot software engineering, Ashok Elluswamy.