In 2015, Tesla was named to the top of Forbes Magazine's list of the world's most innovative companies. The company has “broken innovation.” Using the open innovation framework, here's how Tesla puts open innovation into action: Say no to plagiarism. Get a tailor-made essay on "Why violent video games should not be banned"?Get the original essayCoopetitionTesla Motors is using three avenues to improve the availability of electric vehicles to consumers: First, electric vehicles are marketed at both on online channels and in their own company showrooms. . Second, Tesla sold its patented electric powertrain components to automakers for faster delivery to consumers. Finally, Tesla engines are becoming a model of change for socially responsible vehicles with sporty performance. Businesses and Partnerships Tesla Motors acts as an original equipment manufacturer (OEM), but at the same time it offers the production of electric powertrain components for purchase and trade. other companies. “The outside-in process aims to increase a company's knowledge by bringing together customers, suppliers and knowledge from external sources. On the other hand, the inside-out process aims to make the company more profitable by coming up with innovative ideas, commercializing intellectual property (IP) rights, and extending technology by interacting with the external environment. “Tesla brought outside innovation and knowledge transfer. Designs: Tesla partnered with Lotus, which began by holding a design competition. Tesla opened itself to outside knowledge rather than starting from scratch with its project. Battery: Tesla partnered with Panasonic (a cell manufacturer) as one of its main innovation cores. Additionally, this led to an R&D collaboration for next-generation battery cells that will be used to create a most efficient electric vehicle, the Tesla Model S. Electric propulsion and battery systems: plus the benefits of “KNOW- DO” – alliance with Daimler in which this company invested $50 million to continue its flourishing developments. The partnership expanded with Daimler subsidiary Freightliner to develop Tesla Motor's battery for Freightliner delivery vans. Production systems and technical support: supported by the partnership with Toyota in the production of the Tesla Model S. This model is also an electric version of that of Toyota. RaV4.With the facts stated above, you will see how Tesla opened its ideas to the world, through partnerships, alliances, joint ventures and much more. Together it is mutually beneficial for all. Open innovation has made Tesla Motors electric vehicles a reality by not keeping the ideas just within their company, it is a collective effort and the genius of all companies involved, from the smallest supplier to the largest. Keep in mind: This is just a sample. Get a personalized article from our expert writers now. Get a personalized essay Tesla Motors generated ideas and brought them to market - the same way in leveraging external ideas and carrying out joint R&D with experts in the field.