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(Pocket-lint) - Tesla CEO Elon Musk likes to make bold, lofty promises, and his latest claim is a prime example.

He said his EV company will most likely bring its new processing chip to older vehicles by the end of the year. Called the Full Self-Driving Chip, it is Tesla's first in-house designed chip. Musk recently described it as “the best chip in the world” - as it features six billion transistors and supposedly offers 21-times the performance of the previous HW2+ Nvidia hardware that Tesla was using. 

The new FSD chip, which Musk said will one day power fully self-driving cars, has been shipping in Model S, X, and 3 cars. And, soon, it will come to roughly 500,000 existing Tesla vehicles. It will be offered for free to any Tesla owners who have paid for the “Full Self-Driving” add-on package, which costs $6,000 in the US and gives owners access to Tesla’s Navigate on Autopilot feature.

What is the Pocket-lint daily and how do you get it for free?

Currently, Tesla vehicles can bring you on and off highways, do lane-changes, automatic steering, adaptive cruise control, and more, but they are not yet fully autonomous. For more about Tesla vehicles and the various models you can buy with the FSD chip, see our guide here.

Writing by Maggie Tillman.