Tesla Inc. has nearly cut its monthly lease rates in the United Kingdom by half, allowing British drivers to lease vehicles for just over 50% of what they paid a year ago, Azernews reports, citing foreign media.

The electric vehicle maker is reportedly providing discounts of up to 40% to UK leasing companies as part of a strategy to stimulate sales.

The move is also driven by limited storage capacity for Tesla vehicles in the country, which has prompted the company to offer more attractive leasing terms.