While most auto manufacturers struggle due to the COVID-19 pandemic, Tesla Inc TSLA is beating delivery expectations and turning profits.
CEO Elon Musk spoke to the extent Tesla will go to complete the company's goal of transitioning to sustainable energy in a tweet Tuesday night: offering licensing of software and supply of batteries and power trains.
Tesla is open to licensing software and supplying powertrains & batteries. We’re just trying to accelerate sustainable energy, not crush competitors!
— Elon Musk (@elonmusk) July 29, 2020
Continuing the conversation, Musk said Autopilot is up for licensing grabs as well.
Tesla has long offered use of its Supercharger network to other electric vehicles, but mainted that anyone that wanted access would need to contribute to maintain the network and help continue development.
Tesla's supercharger network is regarded as one of the company's biggest selling points for cars.
Benzinga's Take: While it's a generous offer, it's unlikely to happen.
Imagine Ford licensing batteries or drivetrains from Tesla — it would essentially be an admission of defeat in the EV competition.
Tesla would most likely also charge a large amount to deter others from actually taking the offer and taking up its battery supply.
Software, on the other hand, may be something legacy automakers would choose to license.
Photo courtesy of Tesla.
© 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.