Tesla To Share Patents With Rival Companies To Boost Electric Vehicle Industry

SAN FRANCISCO (AP) — Electric car maker Tesla Motors is opening access to its patents to accelerate electric vehicle development.

Tesla CEO Elon Musk says the company will share several hundred patents and won’t sue those who use them.

Musk says the patents could be a “modest” help to other companies developing electric cars. He says Tesla has gotten few requests for technology from rivals, partly because the patents were blocking access.

Entering this year, Tesla had 203 patents covering batteries and other key features. The earliest any of Tesla’s current patents expires is 2026, so the Palo Alto company is relinquishing a potentially valuable long-term advantage.

Stifel analyst James Albertine says the announcement signals Tesla is open to collaboration as it ramps up production. It currently makes one vehicle, the Model S sedan.

 

© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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