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Tesla Motors Inc. has launched a financing subsidiary targeting corporate buyers of the premium battery-powered vehicle, reports The Detroit News.

The company will allow small and medium-sized businesses to calculate the cost of leasing as they configure the car on Tesla’s website, the company said in a statement.

Tesla Finance will offer loans from partner banks in addition to a resale-value guarantee available under the current program.

Tesla plans to boost production by 56% this year as exports to China begin and the brand expands in Europe.

Source: The Detroit News

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