FILE - The interior of the Tesla Model 3 sedan is seen in this undated handout image as the car company handed over its first 30 Model 3 vehicles to employee buyers at the company’s Fremont facility in California, July 28, 2017.
FILE - The interior of the Tesla Model 3 sedan is seen in this undated handout image as the car company handed over its first 30 Model 3 vehicles to employee buyers at the company’s Fremont facility in California, July 28, 2017.

Tesla Inc has registered a financial leasing company in China, a local business registration filing shows, in the latest sign the U.S. electric car maker is attempting to speed up its push into China.

The California-based carmaker, led by billionaire Chief Executive Elon Musk, has opened a wholly-owned financial leasing unit in Shanghai’s free trade zone with registered capital of $30 million, according to China’s National Enterprise Information Publicity System.

FILE - Elon Musk arrives to speak at Boring Company community meeting in Bel Air, Los Angeles, California, May 17, 2018.
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Its scope includes leasing and consultancy, the document said, which listed the firm’s legal representative as Zhu Xiaotong, Tesla’s boss in China.

Tesla declined to comment.

The company has opened a tender process to build its Shanghai Gigafactory and at least one contractor has started buying materials, Reuters reported earlier this month.

The $2 billion factory, Tesla’s first in China, marks a major bet by the U.S. electric vehicle (EV) maker as it looks to bolster its presence in the world’s biggest auto market where it faces rising competition from a swathe of domestic EV makers and its earnings have been hit by increased tariffs on U.S. imports.