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Tesla gives away its electric car secrets for free

Tesla Elon Musk, the CEO of the pioneering electric carmaker Tesla, has announced that the company is to "open source" all its technology patents in order to speed up the progress of electric car development. In an extraordinary press statement entitled 'All our patents are belong to you' – a reference to online memes and gaming culture, in case you were wondering – Musk has categorically stated that Tesla will not challenge any company that takes advantage of its technology when building rival electric cars.   Tesla gives away electric car technology: will not sue Having recently reviewed the Tesla Model S, this sounds great news for the future of the electric car, but commercial suicide for Tesla as a business.

Troubled Nurburgring race track finds buyer

Rex The legendary Nurburgring race track in Germany is set to be bought out by a consortium led by private investment group HIG capital, it emerged on Friday. The circuit has been burdened with enormous debts, went into administration in 2012, and has been looking for a new owner since last spring. HIG’s move will hopefully allay fears of car enthusiasts around the world, who visit the historic 13-mile track in droves to test the limits of both their car’s handling and their own skill.

£10 million cash boost for Lotus

Business secretary Vince Cable has visited Lotus’ Norfolk headquarters today, where he announced the company would be awarded £10.44 million from the Regional Growth Fund. The money will be used for research and development of products, as well as staff training. The sports car company expects to create 313 full time jobs to support production over the coming years.