Greentech Malaysia gets the ball rolling with Tesla Model S leasing scheme

By CARSIFU | 24 March 2016


PETALING JAYA: Greentech Malaysia is ramping up its push for green mobility by offering the Tesla Model S electric car for lease to government-linked companies (GLCs).

According to a document posted recently at the Greentech Malaysia website, such companies can choose from three variants of the Model S namely the 70D, 90D and P90D.

The “D” stands for a Model S with an electric motor each on the front and rear axles, meaning it’s an all-wheel drive car. With its digital torque controls and low centre of gravity, Tesla claims the dual motor Model S has superior road holding and handling.

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The so-called “Tesla Model S Special Programme” is wooing GLCs with a low monthly lease of RM1,388. The lease is the same regardless which variant is chosen and minimum leasing period is 36 months.

This leasing arrangement is markedly more attractive compared to the proposed arrangement last May when Greentech indicated the monthly lease for 24 months was expected to be RM6,000.

Some of the biggest GLCs are Tenaga Nasional, Malaysia Airports Holdings and Sime Darby Bhd.

The rear-wheel drive S85, two units of which were brought into Malaysia by Greentech last year for trials, is no longer available from Tesla.

The Tesla Model S Special Programme was introduced following government approval last month to allow 100 units to be imported with duty exemptions.

Total upfront price of a 70D, for example, is around RM430,000, which includes the car price, delivery charges and 6% GST (see table above).

The monthly leasing fee includes Maxis connectivity, maintenance and services and the use of ChargEV public chargers.

Interested companies that want the Model S in their fleet would first need to register their interest online with Greentech, which will then guide them on placing their orders. After placing a US$5,000 (RM20,164) order, then the order would proceed. The car would be shipped from the United States to Malaysia via Tesla Hong Kong. It would take around four months for the car to arrive from the point of first contact with Greentech.

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