Boston, MA 04/15/2014 (wallstreetpr) –Tesla Motors Inc (NASDAQ:TSLA) announced its business leasing plan last week for small and mid-sized businesses. The company has made the leasing available through Tesla Finance. It is a subsidiary of Tesla Motors. The aim of the business leasing plan is to enhance the sale of Model S sedans to small and mid-sized businesses. The company generated the funds amounting to $2.3 billion by opting for convertible note sale in March. Now going ahead in the same direction, the company has decided to raise additional finance to support the new leasing unit.
The types of financing
Tesla Finance is planning to arrange the required funds from two ways, first equity and second warehouse financing facility. Presently the company has not disclosed the details pertaining with the capitalization of Tesla Finance. It has set up a subsidiary to provide added benefit to its business clients. The customer finds it convenient to opt for the leasing facility offered by Tesla Motors Inc (NASDAQ:TSLA). At one hand the consumers get the ease of financing the products and, on the other hand, the company gets accolades for offering customer oriented strategies to sell the products. The plan was specially designed seeing the over growing demand of customers for the availability of the financing product.
The future looks bright
The objective of the company is to boost the production by 56%. Tesla Motors Inc (NASDAQ:TSLA) has started the exports to China and is focusing to expand the business in Europe. With the leasing plan, the company is making the Model S sedans easily available for the businesses. There is a good market of leased vehicles in the U.S. Therefore, the decision to start leasing is going to boost the company’s sales in the coming years. Also, the company is planning to use part of the funds generated from Model S sales for financing the leasing unit.
