Tesla Financial Services, the German finance arm of Tesla has officially launched, using technology provider NetSol’s business process outsourcing service to manage the finance and leasing back office process in Germany.

Najeed Ghauri, chief executive officer of Netsol described the deal as a "breakthrough" for the company, which only recently opened an office in Germany.

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Speaking to Motor Finance, Ayub Ghauri told Motor Finance the two companies had been working together on the partnership for six months.

He said: "Tesla has its own unique business model. It’s like an IT start-up company, the product is heavily laden with technology, and the way they decided to go to market was through a portal, mytesla.com.

"They wanted professionals to handle the back office side of things, managing the whole loan process – whether it’s for quotations or processing the loan application itself through various checks and credit references – and then running the whole leasing through its lifecycle. They also wanted to keep it very paperless. That’s where the collaboration is, to make this very painless and paperless, and served through the portal.

Ghuari also said that NetSol was working with Tesla to bring its software solution LeaseSoft to the electric car manufacturer in other European countries, as the partnership was strategic on a European level. He said: "Within in the next six months to a year I envisage two further countries added to this partnership. And then there will be further expansion".

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Netsol is an American company, but has offices in Europe, including one in UK. Overall it has 8 offices worldwide, and employs over 1,000 people.

Davide Ghione, EU fleet sales manager at Tesla spoke at the April Motor Finance Conference in Munich. At the conference, Ghione spoke about Tesla’s future strategy, including a look at the company’s retail structure.

In the UK, Tesla’s finance is done through its partner, Alphera.