What open source means is that while the developer or development group still owns and maintains the software, others are able to look at, fix or enhance the software that was written. Depending on licensing, those changes may need to go back into the project.
Here is one of the most interesting open source projects I have seen...
According to the press release (just click on the picture), it is a car powered by Lithium-Ion batteries and an electric motor on each wheel. The lighting is OLED (Organic Light Emitting Diode) which is driver configurable. The developers are, however, completely opening the technology to others to help improve the vehicle.
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