Tesla, Inc. (NASDAQ:TSLA) has forged a dynamic partnership with the Commonwealth Bank Of Australia (OTC:CMWAY) (OTC:CBAUF), where the financial behemoth has been selected as the go-to finance provider for enthusiasts keen on shifting to electric vehicles.

Under the agreement, customers can apply for CBA's financing loans directly to Tesla's website, enhancing user experience and broadening their financial choices.

Tesla customers can apply for a CBA-secured personal loan with a fixed, low rate of 5.49%.

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This lower interest rate is open to customers who finance eligible sustainable purchases, including electric and hybrid vehicles that meet certain criteria and use their vehicle as security.

CBA's General Manager of Personal Lending, Joel Larsen, said: "Tesla has proven to be one of the preeminent and hallmark brands that has propelled the awareness and uptake of EV adoption in Australia."

"Through this latest announcement we can help more customers realise the benefits of electric vehicles by making finance more affordable," Larsen added.

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Price Action: TSLA shares are trading higher by 1.05% to $269.31 on the last check Wednesday.