NEW YORK (TheStreet) -- Tesla Motors (TSLA - Get Report) has continued to make shockwaves in the automotive industry, following the announcement it will open-source all of its patents, in addition to potentially allowing other automotive companies use of the company's proprietary Supercharger network, as the company pushes the electric vehicle forward.
In June, Tesla's CEO Elon Musk made good on a promise he made earlier that month, opening the company's patents to competitors for the betterment of the electric car market as a whole. "Tesla Motors was created to accelerate the advent of sustainable transport," Musk said in a blog post, discussing the move. "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."
Following the announcement, Wall Street analysts were largely positive, noting it could support "faster development of the supercharger network," according to Baird analyst Ben Kallo in a research note.
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