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Tesla to allow rivals to use its patents

Electric carmaker Tesla Motors has taken the unprecedented step of opening up its technology secrets to its rivals as chief executive Elon Musk attempts to boost interest in the low-emission vehicles.

Tesla, which has defied larger carmakers by making money out of its luxury electric vehicles, will allow competitors to use its patents in a gamble that it hopes will bring down industry costs and open up new business opportunities.

“We believe that Tesla, other companies making electric cars and the world would all benefit from a common, rapidly evolving technology platform,” Mr Musk said.

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