LOS ANGELES, April 2 Tesla Motors Inc
on Tuesday said it was partnering with Wells Fargo & Co
and U.S. Bank on a financing product for customers of
its Model S electric sedan.
The banks have agreed to provide 10 percent down financing
for purchase of a Model S, Tesla said in a statement. The price
of a Model S starts at $62,400 after a federal tax credit.
Tesla founder and Chief Executive Elon Musk had been teasing
the announcement on Twitter for the last week.
"Am going to put my money where my mouth is in v major way,"
he tweeted on March 25.
Tesla said earlier this week that it had its first
profitable quarter ever in the first quarter thanks to
stronger-than-expected sales of its Model S sedan