Netsol has partnered with Tesla to provide leasing for automobiles for customers in Germany, which is one of the most important markets for the electric car manufacturer.
Netsol will be handling all the financing and leasing back office operations in Germany on behalf of Tesla. The company’s asset financing and leasing application, LeaseSoft, is being utilized to run the BPO service.
Netsol recently opened an office in Germany and has over 1300 employees worldwide. Najeeb Ghauri, the founder and CEO of NetSol, said:
This is an exciting breakthrough for NetSol’s European operations, selected to not only deliver the software solution, but also manage the entire back office process for Tesla’s finance business in Germany.
Our long history of client successes and experience running a BPO services business through our subsidiary Virtual Lease Services, as well as our recent expansion effort in the region, were key factors in winning this agreement.
He also talked about Beijing, which is an emerging market for leasing. Netsol has been present in that market since 2005. Ghauri said:
Chinese consumers are now realizing that instead of paying in cash, they can lease. It’s a huge market with a big upside.
In a statement, Tesla said:
We are making it easy and convenient to own Model S with a flexible, completely paperless leasing program to customers in Germany.
The U.S. based automaker is one of the leading names in electric vehicles and has been a key driver in innovation in the industry. The company will release the Model X, an SUV, later this summer.
The deal also marks another important landmark for Netsol. The company already manages the financing for other German automobile manufacturers like Daimler AG and Tesla’s addition to the roster will help them secure a foothold in the lucrative and emerging market for electric vehicles.
It’s also a testament to the quality of financial services offered by the company and will surely go a long way to enhancing Pakistan’s reputation as a quality software powerhouse.