Tesla Motors And NetSol Technologies Partnership

Jun. 03, 2015 7:33 PM ETTSLA, F, GM, HMC, NSANY, STLA, TM
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Tesla Motors Using NetSol to Manage Finance Leasing in Germany By Bloomberg

Tesla Motors Inc. is using information-technology services company NetSol Technologies Inc. to manage auto leasing for customers in Germany, a key European market for the electric-car maker.

Tesla's financing arm has started using the company to manage all of its financing and leasing back-office operations in the country, NetSol said in a statement Tuesday. Calabasas, California-based NetSol said it also counts the financing arms of German automakers including Daimler AG among its customers.

"Europe is a growing market for us," Najeeb Ghauri, founder and chief executive officer of NetSol, said in an interview. "This is an exciting breakthrough relationship with Tesla."

NetSol has 1,300 employees worldwide and recently opened a new office in Germany, Ghauri said.

"We are making it easy and convenient to own Model S with a flexible, completely paperless leasing program to customers in Germany," Tesla said in an e-mailed statement.

The automaker, based in Palo Alto, California, sells the all-electric Model S sedan and has said it will release the Model X, a sport-utility vehicle, this summer.

Ghauri said NetSol, which opened a Beijing office in 2005, sees great potential in China, where leasing is still young.

"Chinese consumers are now realizing that instead of paying in cash, they can lease," Ghauri said. "It's a huge market with a big upside."

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