ASX-listed personal lender Plenti is partnering with Tesla to...

ASX-listed personal lender Plenti is partnering with Tesla to provide finance through its website and will seek to provide other electric vehicle (EV) manufacturers with tailored funding options, in a move that coincides with the federal government’s announcement this week that it would like 30 per cent of new car purchases to be electric or low-emissions hybrids by 2030.

Not only will it offer customers a cheaper rate, tied to lower funding costs based on investor demand, but there are unique features including an ability to draw down on the loan to purchase charging infrastructure or downloadable vehicle upgrades. (Tesla’s self-driving software costs an additional $10,000).

There will also be access to discounted EV-specific insurance, featuring battery and charger damage cover, while Plenti will provide information services around charging and vehicle comparison.

“We expect the introduction of EVs will accelerate the shift of car sales to being an online experience, which has significant consequences for the automotive market,” Mr Foggo said. “Car manufacturers want to take more control of the sales process, and it is more efficient to be selling online.”