After Tesla, Ford is opening up its electric vehicle patents for free to competitors

Ford

Ford is opening up its electric vehicle patents for free to competitors.

One of the biggest upshots that automotive industry is facing is that, when a new prototype of a car is introduced by using innovative technology, it takes several years to set the right path for audience to catch up with its new model.

Earlier, Tesla Motors revolutionized the automotive industry with its new patents to promote the adoption of all-electric cars, and now after Tesla, today, Ford Motor Company announced that it is going to make about 650 patents that are dedicated to electric vehicle technologies, and will be made available for free of cost to other automobile manufacturers. But, Unlike Tesla, Ford is also seeking for an undisclosed payment.

The company revealed that it will be licensing its patents through the AutoHarvest Foundation- a nonprofit foundation, which allows the automotive industry to trade intellectual property amid itself.

A company’s official representative said that the licensing of patents would cost somewhere round thousands to dollars, depending on the patent.

Currently, Ford offers six electrified car models, both hybrid and all-electric car models, and is planning to hire 200 engineers for further EV development at Ford Engineering Laboratories by this year. The company intends to solve the bigger challenges and improve the automotive industry for a better future of automotive industry.

Automobile manufacturers are under a lot of pressure to increase fuel efficiency, producing more hybrid, and all- electric vehicles- this is one of the possible outcomes to do that. The problem arises that the all-electrified vehicles are more expensive and they don’t even provide a benefit over their conventional match.

According to a source reports, it revealed that electrified vehicles cover about 1.6 per cent of U.S. car sales from Jan. to April 2015. The upcoming trends to lower fuel prices act as one of the hurdles to drive customers away from such electrified cars.

The company stated that the all-electric cars are a flight of fancy. The fuel –efficiency standards are getting more stringent, but the fuel cost won’t stay low. The company added that electrification, with additional investments in turbocharging, diesel engines, and light weight materials, such as carbon fiber and aluminum will become more essential in near future.

The company predicts that powertrains in the cars of its future stimulate BMW’s i8 that uses a very small turbocharged three-cylinder engine. It fuels 228 horsepower to the real wheels, and also come with an electric motor, which directs an extra 129 horsepower to the front wheels.

Don’t get surprised, when automotive industry comes with a commitment towards electrification, from Ford, Tesla, and many other automobile industries, where they introduce the all-electrified and super cars in near future.

Avatar
Christy Gren
Christy Gren is an Industry Specialist Reporter at Industry Leaders Magazine she enjoys writing about Unicorns, Silicon Valley, Startups, Business Leaders and Innovators. Her articles provide an insight about the Power Players in the field of Technology, Auto, Manufacturing, and F&B.

Recent Posts

Elior acquires Nestor, the single meal food delivery startup

Elior acquires Nestor, the single meal food delivery startup

Elior, the corporate catering company, has acquired the French startup Nestor for an undisclosed amount. Nestor, a Paris, France-based food delivery service, started in 2015 with a
2 days ago
Axa gears to buy office space worth €800m in European cities

Axa gears to buy office space worth €800m in European cities

Axa Investment Managers, the French fund house, is not too worried about predictions that the post-pandemic world will see more people working from home and office real estates shr
3 days ago
ShareChat raises $502 million at $2 billion valuation

ShareChat raises $502 million at $2 billion valuation

ShareChat, the Indian owner of short video app Moj, has raised $502 million in the series E round of funding, pushing its value at $2.1 billion in the market. The five-year-old com
3 days ago
Small business groups form coalition to lobby for strong antitrust laws

Small business groups form coalition to lobby for strong antitrust laws

Small merchant groups are coming together to rally for strong antitrust laws to prevent big conglomerates like Amazon from swallowing up the smaller traders and businesses. Trade g
4 days ago
Vitol’s profit soars during 2020 oil crisis

Vitol’s profit soars during 2020 oil crisis

The world’s largest independent oil trader Vitol made record profits in 2020 as the fluctuations in the global energy markets resulted in a windfall. Vitol suffered an $85 billio
5 days ago
Seadrill proposes debt write off of $4.8 billion

Seadrill proposes debt write off of $4.8 billion

Seadrill Ltd., a deepwater drilling contracting company, owned by billionaire John Fredriksen, said it is ready to write off a debt of over $4.8 billion, giving lenders a 99 perce
6 days ago