ELECTRIC vehicle (EV) maker Tesla appears to be readying itself to begin insuring British drivers through the launch of its own London-based insurer. Elon Musk's automotive company is seeking to open a UK branch of its Malta-based insurance business, filings to Companies House show. Tesla is also hiring a lawyer to work in its "full-stack in-house insurer" in the firm's London HQ , a job advert posted on the car makers website shows.

The news, first reported by the Insurance Post, comes after Tesla first launched its own insurance offering to California drivers in 2019.

Tesla's in-house insurer only offers coverage to those who drive the carmaker's vehicles, with a view to providing cheaper premiums than other insurers.

The auto manufacturer uses data from the cars themselves to model driving behaviour in order to offer lower premiums.

Tesla chief Musk, who bought Twitter last year, has previously argued the carmaker's "information advantage" over traditional insurers allows it to undercut its rivals. The EV giant later began offering insurance coverage to customers in Europe through the launch of its Maltese subsidiary, Tesla Insurance Europe, in 2020.

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