NEW YORK (TheStreet) -- Tesla Motors (TSLA - Get Report) held its annual shareholder meeting on Tuesday, and while there weren't a lot of surprises, the major takeaway is that CEO Elon Musk may do something radical with the company's patents to jumpstart his vision for electric vehicles.
At the meeting in Mountain View, Calif., Musk noted he had hoped other car companies would engage in more serious electric car programs, stating he didn't think their success would be a detriment to Tesla, despite Tesla being the most recognizable brand for electric cars. "We need all cars to go electric," Musk said during the question-and-answer portion of the meeting. He stated that there are about 2 billion cars around the world, with 100 million sold every year.
"I'm contemplating doing something fairly significant on that front which would be fairly controversial as it relates to Tesla's patents, but I need to write something down to explain my reasoning," Musk said. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia
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