Tesla Inc TSLA CEO Elon Musk on Tuesday said the automaker was open to licensing software and supplying key components, such as powertrains and batteries to rivals in a bid to give a boost to sustainable energy.
What Happened
"Tesla is open to licensing software and supplying powertrains & batteries. We’re just trying to accelerate sustainable energy, not crush competitors!," Musk said on Twitter.
The billionaire entrepreneur suggested that while the electric vehicles maker is ready to license the crucial feature Autopilot to competitors, it draws the line at sharing its in-car fart machine technology, added as an easter egg to the software in 2018.
Haha no one can ever have our top secret fart technology!!
— Elon Musk (@elonmusk) July 29, 2020
Why It Matters
Tesla used to supply powertrains and battery packs to Daimler AG DDAIF subsidiary Mercedes-Benz but stopped doing so in 2016, according to International Business Times. The company followed the same course with Toyota Motor Corp TM as well.
In 2014, Musk published a note on Tesla’s website titled “all our patent are belong to you,” saying “we believe that Tesla, other companies making electric cars, and the world would all benefit from a common, rapidly-evolving technology platform.”
However, not many companies have taken advantage of Musk’s 2014 offer and the only company to do so, the Alibaba Group Holding Limited BABA-backed Xpeng, stands accused of benefitting from stolen Tesla Autopilot secrets, Electrek noted.
Price Action
Tesla shares closed 4.10% lower at $1,476.49 on Tuesday and further declined 0.35% in the after-hours session.
Photo by Andreas Dress on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
