Tesla Announces Leasing Deal with Germany’s Sixt

Posted: 5:20 pm, February 6, 2014 by Jeffrey Ely

Elon Musk, co-founder and CEO of Tesla, poses with a model of his own car brand on 31 January 2014. Photo: dpa

Munich (dpa/MunichNOW News) – US all-electric car manufacturer Tesla is hoping to gain a foothold in the German market through a deal with local rental-car operator Sixt.

John Glenney, 62, of Lexington, Ky., talks about his cross-country trip in his Tesla Model S sedan, using only the company’s Supercharging stations, while charging the car at the Tesla headquarters in Fremont, Calif. on January 27, 2014 — photo: dpa

Sixt, which is the largest German-owned hire car company, plans to lease rather than rent the upmarket, battery-powered Tesla S saloon to customers.

Speaking in Munich, the Tesla chief, billionaire entrepreneur Elon Musk, said it was hoped to sell 10,000 Tesla models a year in Germany from the end of this year. Clients will pay around 500 euros a month (675 dollars) to lease a Tesla.

The rate is slightly higher than Sixt charges for a BMW 5 series saloon with a conventional combustion engine.

The current Tesla S costs 70,000 euros in Germany and is a rarity on the roads. Tesla, based in Palo Alto, California, hopes to introduce a medium-priced variant costing half that sum but says this model is still three years away.

At last year’s IAA motor show in Frankfurt, Tesla announced a plan to establish a European network of charging stations

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