US: Tesla to create finance unit for corporate buyers image

The California-based electric automaker has decided to also create a financing arm to target corporate buyers, a year since it created its first lease program for the premium Model S.

According to a statement issued by the company, any small or medium business could calculate directly on Tesla’s website the lease cost of the car while they configure it and the new Tesla Finance unit would assist with loans from banks that partner with Tesla.

“These kinds of business leases are offered as a perk to vice presidents, company directors, C-level managers,” said Alec Gutierrez, an industry analyst for Kelley Blue Book. Others like BMW or Mercedes-Benz rely on them “and it’s a good market for Tesla to go after.”

“These financing options, when combined with the fuel savings of Model S, provide an attractive value proposition,” also said the automaker.

The electric carmaker, which just raised last month $2.3 billion from selling convertible notes to finance and build its battery factory and speed up model development, but also wants to increase production this year by around 56% – as it taps into the Chinese market and expands sales to Europe.

Via Bloomberg