June 12, 2014, 1:33 p.m. EDT
Tesla opens its electric-car patents to the industry
By Jim Jelter
TSLA
SAN FRANCISCO (MarketWatch) -- Tesla Motors Co. /quotes/zigman/118681/delayed/quotes/nls/tsla TSLA -0.23% CEO Elon Musk, citing the "spirit of the open source movement", said Thursday the company has decided to share its patents with anyone in the industry in an effort to advance the electric-car industry. "Tesla Motors was created to accelerate the advent of sustainable transport. If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal. Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology," Musk said in a statement. He went on to say that the company believes Tesla, as well as others, will ultimately benefit from a "common, rapidly-evolving technology platform." Tesla shares were last down 0.2% at $204.01.
