Tesla has slashed the price of its self-driving technology to just $99 (£79.47) per month, despite claims that the feature would be worth $100,000 (£80,276) in the near future.

The electric vehicle manufacturing giant announced yesterday that the price of its Full Self-Driving (supervised) package would drop to $99 per month in the United States.

This is a price drop of $100 a month, as its founder and CEO Elon Musk continues to tout the benefits of the technology and the value it provides to the EV.

However, this has caused some concern from drivers and industry experts, highlighting how the firebrand CEO had claimed the technology would be valued at more than 1,000 times the current value.

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Writing on Twitter, now known as X, Musk stated in May 2020 that the FSD option would rise by around $1,000 worldwide within months.

He added: "The FSD price will continue to rise as the software gets closer to full self-driving capability with regulatory approval.

"At that point, the value of FSD is probably somewhere in excess of $100,000."

Dan O'Dowd, Founder of The Dawn Project, has been a frequent critic of Tesla's Full Self-Driving capabilities over fears that the technology is unsafe, in addition to doubts over Musk's claims that the value of FSD would reach such lofty heights.

Speaking to GB News, he said: "Full Self-Driving's price continues to fall as Tesla's software gets further from full self-driving capability with regulatory approval.

"When will Full Self-Driving be worth the $100,000 Elon Musk promised in 2020?"

“It is criminally irresponsible to ship unfinished safety critical software that 'may do the wrong thing at the worst time' to millions of ordinary consumers.”

The FSD technology allows drivers to benefit from more active guidance and assisted driving under their active supervision. It is not yet available outside of Canada and the United States.

Similarly, Elon Musk claimed during Tesla Autonomy Day in April 2019 said "next year for sure" there would be over one million robotaxis on the road.

He added that the net present value of a single Robotaxi is around $200,000 (£160,550), saying that "buying a Model 3 is a good deal".

However, earlier this month, Elon Musk said he would unveil a Robotaxi on August 8, with this believed to be the alternative to a cheaper electric vehicle for around $25,000 (£20,070).

Musk has touted the development of a cheaper electric vehicle for years, with recent claims that the affordable car would be developed at the brand's Berlin Gigafactory.

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A recent report from Reuters suggested that Tesla had scrapped its plans for a low-cost electric vehicle, although this was quickly debunked by Musk on X, the social media platform he owns, saying that "Reuters is lying (again)".

GB News has contacted Tesla in relation to the price cuts and FSD claims.