In 2015, Tesla was named to the top of Forbes magazine's list of the world's most innovative companies. The company has "innovative innovation". Using the open innovation framework, here's how Tesla implements open innovation in action: Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayCoopetitionTesla Motors uses three paths to improve the availability of electric vehicles for consumers: First, electric vehicles are marketed both in online channels and in their company showrooms. Second, Tesla sold its patented electric powertrain components to automakers for faster delivery to consumers. Finally, Tesla engines become a model of change for socially responsible vehicles with sporty performance. Corporate Ventures & Partnerships Tesla Motors acts as an original equipment manufacturer (OEM) but at the same time has production of electric powertrain components available for purchase and trade by 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 the technology by interacting with the external environment. “Tesla brought innovation outward and knowledge transfer. Projects: Tesla collaborated with Lotus, which started by holding a design competition. Tesla opened itself up to external knowledge rather than starting from scratch with its own project. Battery Pack: Tesla has partnered with Panasonic (a cell manufacturer) as one of its major innovation hubs. Not only that, this has led to a research and development collaboration for next-generation battery cells to be used to create electric vehicles more efficient, drive and battery systems Tesla Model S.Electric: in addition to the "KNOW-HOW" Advantages - alliance with Daimler in which this company has invested 50 million dollars to facilitate its flourishing developments. The partnership has expanded with Daimler's subsidiary Freightliner for Tesla Motor's battery development for Freightliner's delivery vans Manufacturing systems and technical support: Supported by partnership with Toyota in the production of Tesla Model S. That model is also an electric version. of the Toyota RaV4.With the above facts, you will see how Tesla has opened its ideas to the world, through partnerships, alliances, joint ventures and much more. Together, it's a win-win. Open innovation has made Tesla Motors' electric vehicles a reality not just by keeping the ideas in their companies, it is a collective effort and ingenuity of all companies involved, from the smallest supplier to the largest ones. Keep in mind: This is just a sample. Get a custom paper from our expert writers now. Get a custom essay Tesla Motors has been generating ideas and bringing them to market, similarly leveraging external ideas and carrying out joint research and development with experts of the sector.