Tesla Forges New Partnership To Boost EV Affordability With Credit Union Financing
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has partnered with lending technology firm Origence to offer credit union financing to U.S. customers, aiming to make EVs more affordable by providing competitive rates and extended financing terms. This initiative allows buyers to finance their Tesla vehicles through credit unions via Origence's FI Connect, either through Tesla's website or mobile app. The move addresses concerns raised by CEO Elon Musk about high-interest rates affecting vehicle affordability.
December 21, 2023 | 12:47 pm
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Tesla's new partnership with Origence to provide credit union financing could enhance vehicle affordability, potentially increasing sales and customer satisfaction.
The partnership with Origence is directly aimed at addressing affordability, a key concern for Tesla's customer base. By offering competitive rates and extended terms through credit unions, Tesla may see an increase in sales as financing becomes more accessible. This could have a positive short-term impact on TSLA's stock as it addresses a critical issue highlighted by Elon Musk and could lead to improved market sentiment.
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