NEW YORK - Tenet, the leading EV financing platform, today announced a partnership with Xcelerate Auto, a financial technology company with an emphasis on electric vehicles, to couple its EV extended warranty into Tenet's loan options.

'Working with a company whose mission aligns with ours to revolutionize the EV buying experience is the perfect complement to what we do at Tenet,' said Alex Liegl, CEO and Co-Founder of Tenet. 'We are excited to partner with KJ and the Xcelerate Auto team to make Teslas and all EVs more affordable, and look forward to ushering in the mass adoption of electric vehicles.'

Xcelerate Auto designed the first and only Electric Vehicle Service Agreement for Tesla in 2019, and with this partnership, Tenet customers will now have access to package XCare with their current loans. XCare, a comprehensive exclusionary service coverage, is the highest level of coverage that a vehicle qualifies for outside the manufacturer's warranty, meaning Xcelerate Auto will cover the entire vehicle with the exception of certain excluded items. Since XCare was originally built for Tesla, it was designed to work around Tesla's direct-to-customer service model, so owners will not have to worry about servicing their vehicles in any different way than intended by Tesla Service.

'We couldn't be more excited for this partnership and the opportunity to provide products like XCare EV Protection to Tenet and its drivers,' said Xcelerate CEO KJ Gimbel. 'The moment we met the Tenet team, we recognized the same mission-driven mentality in each other and knew this was the perfect recipe to collaborate. We expect big things to come and can't wait to work together on our shared mission of making EVs affordable for the average consumer.'

About Tenet

Tenet makes the sustainable choice the smart financial choice. Tenet's innovative electric vehicle financing provides substantial savings by lowering monthly payments and driving adoption of environmental home upgrades. Founded in 2021 by Alex Liegl, Andreas Wallendahl, and Paul Sebexen, Tenet is backed by Human Capital, Giant Ventures, Breyer Capital, Global Founders Capital, Firstminute Capital and additional angel investors. The company's headquarters are in New York.

About Xcelerate

Xcelerate is a national company that offers financing, leasing and warranty products for the Battery Electric Vehicle industry for both the private and public sectors. Our vision is to create the ability for customers to easily get into an electric vehicle without having to deal with the traditional auto buying/leasing experience. Every product is developed with a focus of walking backwards from the customer experience, with a strong focus on 'Xcelerating' the transition to sustainable transport.

With over 40 years of automotive experience, 25 of those years specializing in the electric vehicle space, our team has come from the traditional automotive space, former Tesla management and Silicon Valley tech, and we strive to be in the forefront of automotive technology with the goal of transitioning the public into the future of electric transport.

Contact:

Hannah Williams

Email: tenet@sutherlandgold.com

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