Business

Is Tesla Motors patently insane?

, Rare Staff

Posted on

Tesla CEO Elon Musk announced on Thursday that his company will be giving all its patents away to its competitors in an effort to speed up electric car production and increase profits, Wired reports.

“The mission of the company is to accelerate the widespread adoption of electric cars,” said Tesla spokesperson Simon Sproule before Musk made his announcement. “If Tesla acts as the catalyst for other manufacturers … that will have been achieved.”

Tesla hopes for other companies to adopt its Model S technology in order to broaden their market reach and get an electric car in every American household.

“They need to see Americans … at least be open to switching to an electric vehicle lifestyle,” Kelly Blue Book analyst Karl Brauer said. By themselves, “they’re never going to convert the average American into an electric car fan, even with great press and great publicity.”

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