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We've seen crowdsourcing used for just about everything, from novels to mining. We've even seen crowdsourcing, combined with social networking, used for marketing purposes when brands launch competitions for new Coke machines in Second Life, or things of the sort. What we don't typically see is a combination of most of these factors, for the creation of actual products that are released to the market, with the social aspects coming by way of networking and related contests.
Local Motors is a new American car company looking to combine all of these factors for regional cars. Weekly contests are held, with rewards for the participants with the best design. This open-source car design company is both collaborative and a social network, connecting car designers with car lovers. Everyone can vote for the best designs, which will then be built and made available for purchase.
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With this approach, Local Motors has some pretty lofty goals for its company, in its hope to use a web-based networking and collaborative platform for the purpose of stimulating economic growth in various regions throughout the US. There's also a green initiative aligned with Local Motors, so th company is being environmentally conscience of the necessity to create a more efficient vehicle that's good for the earth.