In China, the Tesla Inc has registered a company which is a financial leasing one.
This was shown by the filing of a local business registration. This is the latest sign of the attempt of the electric car maker of the United States to speed up its push in China.
Tesla which is a California based car maker that is led by the Chief Executive Elon Musk who is a billionaire has now opened financial leasing unit that is wholly owned by Tesla.
The financial leasing unit has been opened in the trade free zone of Shanghai. According to National Enterprise Information Publicity System of China, the registered capital of the financial leasing unit is of $30 million.
According to the document, the scope of the leasing unit includes services of leasing and consultancy. In the document, Zhu Xiaotong has been listed as the legal representative of the leasing unit who will be the boss of Tesla in China.
According to Reuters, Tesla declined its requests to comment on the matter.
Reuters has also reported at the beginning of this month that Tesla has already opened a tender process so as to build the Shanghai Gigafactory.
Moreover according to the report, one of the contractors has also started the purchasing of the materials.
This $2 billion factory which is a first of Tesla in China is the marking of a major bet by the electric vehicle maker which is abbreviated as EV, of the United States.
This is in the way to the seeking of the bolstering of the presence of Tesla in the biggest market of auto market of the world.
This is because the company has been facing increasing competition from a number of electric vehicle makers of China.
Moreover the earnings of the company has also been hit by the rise in the tariffs which were imposed on the imports by the United States.
Source: Reuters, Yahoo Finance
