The price of a Teslas lease in the US has been slashed by almost 50 per cent since the US Department of Energy announced it was ending its loan program for the company in January.

Teslas leases in California are currently $1,750 a month, up from $1.4, but the state has also announced a 50 per one-year lease for the car.

The move comes after the DOE said in January it would no longer guarantee loans for the California carmaker.

Tesla has said the carmaker would receive a $2.4 billion loan from the state and $3 billion over the next three years to pay back the DOE.

The US government has been trying to get the company to refinance its $100 billion loan to prop up the struggling California auto industry.

Tesla has long insisted it could refinance the loan to help it avoid bankruptcy and has refused to do so.

But it has also said it would be “inappropriate” to refile the loan if it meant losing billions of dollars in taxpayer money.