Tesla Motors announced Thursday it will share all patents, past and future, in hopes of encouraging electric car development.

Currently less than 1% of all cars on the road are electric. The concern over travel range and lack of charging locations keeps the public from buying. Hopefully with Tesla opening up their technology to the public that will begin to change.

Co-Founder and CEO Elon Musk stated “If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal,” and they will not seek legal action against anyone who chooses to use their patents.

The $70,000 Tesla Model S is currently the only vehicle in production from Tesla Motors. But what a vehicle it is. In the performance model (priced around $93,000), you can have 416 horsepower and still get a combined 89 MPGe.

Another notable electric vehicle is the Nissan Leaf. It starts at around $27,000 and gets 114 combined MPGe, however its 107 horsepower and less than attractive design doesn’t exactly make it desirable.

The Tesla Model S is pure beauty combined with performance. Hopefully with the release of this technology, auto makers will start making electric cars that entice a wider range of buyers.

What do you think needs to be done to make electric vehicles successful? Comment below.