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Tesla Offers Up Access to Patented Technology to Competition

EV maker’s hoping to accelerate growth of battery electrics with move.

by on Jun.13, 2014

Tesla's Model S is one of the best-selling electric vehicles in the U.S., however, EV sales are still less than 1% of all vehicles purchased, but Elon Musk is trying to accelerate that.

Apparently, Tesla Motors’ CEO Elon Musk really believes in the adage “a rising tide lifts all boats” as he’s decided to give all automakers access to the company’s patents. By giving everyone the technology, it may boost innovation and, by extension, sales.

“We’re trying to clear a path for the electric-vehicle industry,” he said during a conference call today. “I think to some degree here a rising tide lifts all boats. On balance it’s better if the rest of the industry pursues electric vehicles more vigorously.”

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The access doesn’t come without some strings attached. Automakers using the information must provide something of equal value or agree to not sue Tesla. (more…)