Tesla Motors electrifies London

29-Jun-2009

Tesla Motors, the electric vehicle manufacturer, has opened its first European store in London with the help of Think London, the foreign direct investment agency for London.

The California-based company and makers of the Roadster, a high-performance electric sports car, has established the base of its European operations in Knightsbridge, with London’s green credentials playing a significant role in its decision.

Michael Charlton, Chief Executive of Think London said: “London was the obvious destination for Tesla as the Mayor of London recently announced his commitment to making electric cars the 'first choice for Londoners'.

"As well as London being the UK’s biggest car market, the Mayor’s vision to make London the electric car capital of Europe provides a great business opportunity, and we expect interest from overseas investors in this sector to grow.”

Additionally, the UK government has committed to reducing emissions and has introduced incentives for the owners of electric vehicles including tax exemption, free parking, no congestion charge and low running costs. These incentives will help to stimulate demand within this sector.

Don Cochrane, UK Sales and Marketing Director of Tesla said: “London has always been a lead market for new products and innovations. Thanks to the Mayor of London’s commitment and forward planning of logistics and infrastructure it was the obvious choice for us to launch our first European store.”

Since 2000, Think London has assisted nearly 900 companies from North America expand their operations to London including Delta Airways, Amgen, Google, Raytheon, Wells Fargo, LinkedIn, Microsoft, MySpace and Facebook.

About Think London
Think London is the foreign direct investment agency for London, assisting companies moving to the UK capital by offering access to business networks , people and opportunities . Think London is a not-for-profit, private-public partnership delivering expertise and advice to international businesses. The agency’s service is completely free, comprehensive and confidential. Think London’s experts work with government and the business community to help companies access the best people, places and opportunities in the city. Think London’s principal funding partners are the London Development Agency (LDA) and our network of commercial partners . Other key partners are the City of London Corporation , which also provides funding, UK Trade & Investment and the business community through London First .