Texas-based energy giant Texas Instruments Inc (NYSE:TSLA) is the latest to take advantage of a recent boom in electric vehicle sales and electric vehicle purchases, announcing Wednesday that it is offering free credit cards to anyone who buys a Tesla Energy or Tesla Energy Plus car, or who purchases at least three Tesla Energy cars or vehicles.
“We believe this is a very good and innovative initiative to help drive adoption of the electric vehicle,” Texas Instruments President and CEO David Niebuhr said in a statement.
“While we know many of our customers have been reluctant to invest in electric vehicles, our goal is to provide a safe, convenient and cost-effective alternative for the many drivers and customers that have come to our company for their vehicles.”
Tesla Energy is a Tesla electric car program that allows customers to buy an electric vehicle or purchase an EV for their household and then purchase another vehicle of their choice for a monthly payment.
Tesla Energy has also partnered with Toyota Motor Corp (NYSE.TM) to offer the Tesla Energy program to its Toyota, Lexus, Scion and Mitsubishi Motors division customers.
Niecrs comments came as Tesla Energy stock rose as much as 7% in premarket trading on Thursday after the company said it had completed more than 2 million vehicles in less than two years.
Tesla shares have climbed more than 20% in the past two months after the U.S. government said last month it was cracking down on automakers that fail to meet emissions standards for new vehicles.
Tesla has been a leading manufacturer of electric vehicles and has a significant presence in the automotive market in many countries.
Tesla also said it will release an additional 5,000 electric vehicle vehicles next year, bringing the total number of EVs on the road to 30,000 by the end of 2021.
Tesla said it would also expand its EV sales in the U of A. “The company believes that the EV program is an important part of our mission to provide low-cost, affordable electric vehicles for the American consumer,” Niebler said.
“In addition, Tesla Energy and Tesla are committed to making electric vehicles available to all who can afford them.”
The company has previously announced a Tesla energy credit card, but the program was only offered to U.K. residents.
“Our mission is to make the world’s most powerful vehicles as affordable as possible,” Nierbuhrs statement said.
The company also said the program will be available to anyone willing to pay for at least a few cars.
“As our fleet grows, we will continue to invest heavily in making our electric vehicle program as accessible as possible for customers in the United States, Canada and other countries,” Niesbuhrer said.
Tesla is also offering an additional $100 Tesla Energy card to people who buy the Tesla Model S sedan or X, and $200 for people who purchase the Model X.