Entrepreneur Elon Musk announced Wednesday that his Tesla car company is working on an improved full-self driving, or FSD, model that may be ready to roll soon.

The company described the "interim award" as "good faith" payment to honor Musk's more than $50 billion pay package from 2018 that was struck down by a Delaware court last year.

Tesla's board approved a compensation package for Elon Musk worth about $29 billion in order to keep the chief executive focused on the company.