Tesla's $30 million to set up a finance leasing company in China

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Tesla's $30 million to set up a finance leasing company in China

2018-12-27 20:25:12 266 ℃

On December 27th, 21st Century Business Herald reporters learned through the National Enterprise Credit Information System that Tesla was already in 2018 On the 19th of the month, he registered “Tesla Financial Leasing (China) Co., Ltd.” in the Shanghai Free Trade Zone with a registered capital of 30 million US dollars. The legal representative and chairman of the board are Zhu Xiaotong.

The 21st Century Business Herald reporter learned from people close to the matter that Tesla Financial Leasing (China) Co., Ltd. will settle in Lujiazui Financial City.

Lujiazui has always been a highland in the financial leasing industry. In terms of auto financing leasing, this year, SAIC General Motors and Ford Motor Finance Leasing Company were newly settled.

The sole shareholder of the company is Tesla Hong Kong Limited, a wholly-owned subsidiary. It is understood that the company will be based in Shanghai and provide financial leasing services and support for new energy and related products to the whole country, serving the Tesla brand. Tesla Motors Hong Kong Co., Ltd. is an operating organization mainly engaged in automobile sales business. It was established in April 2010. It achieved revenue of HK$2.4 billion at the end of 2017 and total assets of HK$4 billion at the end of the period.

In October 2018, Tesla announced that 970 million land was nearly 1,300 acres, and a super factory was built in Shanghai, and two months later, the official website of the Shanghai Municipal People’s Government issued a message saying that the project is currently The land leveling has been basically completed, and construction will start soon. It is expected to be partially put into operation in the second half of 2019. According to the plan, this super factory will integrate R&D, manufacturing and sales functions. It is estimated that after 2-3 years of construction, the annual production capacity of 500,000 pure electric vehicles will be reached.

Tesla Financial Leasing is following the policy. On December 17, the Shanghai Free Trade Zone Management Committee issued the “Several Measures of the China (Shanghai) Pilot Free Trade Zone on Further Promoting the Development of the Finance Leasing Industry”, mentioning the support for the establishment and development of financial leasing enterprises and supporting the access of financial leasing enterprises. Facilitation. Including support for capitalists with advantageous industrial backgrounds, set up financial leasing companies and professional subsidiaries in the Shanghai Pilot Free Trade Zone, and continuously optimize the workflow of establishment, change filing or approval of financial leasing companies to further release market vitality.

But before the introduction of this policy, the adjustment of the functions of the state regulatory authorities affected the progress of new leased projects in Shanghai, especially the establishment of domestic financing leasing companies. According to informed sources, in May 2018, the Ministry of Commerce issued a document to transfer the supervision function of the financial leasing industry to the Banking Regulatory Commission. At the same time, the approval function of Shanghai was handed over to the Financial Office (now the Shanghai Local Financial Supervision Bureau) for approval, but there were pilot financing leases for domestic enterprises. The implementation rules have not yet been issued, and the approval of this business has gradually stopped since June.