Tesla CEO Elon Musk says price of Full Self-Driving system will increase to $15,000 in September

Tesla CEO Elon Musk announced on Twitter that the price of its Full Self-Driving system, known as FSD, will increase to $15,000 on Sept. 5.

Musk made the announcement in a tweet on Saturday, stating that the price change will happen after the wide release of FSD Beta 10.69.2.

The cost of FSD is $12,000 upfront as of Aug. 21, or a subscription of $199 per month.

"After wide release of FSD Beta 10.69.2, price of FSD will rise to $15k in North America on September 5th. Current price will be honored for orders made before Sept 5th, but delivered later," Musk said in the tweet. "Note, you can upgrade your existing car to FSD in 2 mins via the Tesla app."

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The price of FSD rose from $10,000 to $12,000 in January, making this the second price increase of the year.

With FSD, Tesla's can automatically detect stop signs and traffic signs, then "automatically slows your car to a stop on approach."

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An upcoming feature for FSD is listed as "autosteer on city streets."

Teslas with FSD enabled also enjoy the features of autopilot and enhanced autopilot, which include "traffic-aware cruise control," "autosteer," "navigate on autopilot," "autopark" and more.