BYD and Arval’s EV lease agreement will contribute to the electrification of European roads

Just two years after first entering the new European market, Build Your Dreams (BYD) is looking to accelerate its expansion with the support of Arval, a leading international car leasing company. The two companies have signed a memorandum of understanding to become leasing partners and make more BYD passenger EVs and light commercial EVs available to drivers.

Now let’s talk about BYD again. Chinese EV carmakers are rapidly becoming globally recognized names and have recently gained considerable influence after taking over the world leadership in EV sales from long-time leader Tesla. ing.

This news was announced five weeks ago, but with all the moves BYD has made since then, it feels like it’s already been five months. We saw the automaker break ground on its first sodium-ion battery factory, unveil its first sedan under its new luxury brand Yangwang, and reveal the Sea Lion 07 SUV designed to compete with the Model Y. I saw.

In Europe, BYD is outsourcing its cargo ships to transport EVs from China until its next production facility is built in Turkey. Preliminary land purchases have already been made, and the new facility is expected to be operational within three years, with an annual production capacity of 200,000 EVs.

Europe is a key market for BYD’s success this year, with the company expecting net profit to be worth $4 billion. To encourage further sales and expansion, BYD and leasing specialist Arval have teamed up to offer EU drivers additional financing options for driving Chinese EVs.

BYD and Arval expand partnership to offer EV leasing in the EU

Earlier this week, BYD and Arval executives signed a memorandum of understanding (MoU) under a leasing program to encourage European drivers and local business customers to go all-electric in BYD’s passenger cars and light commercial vehicles.

The memorandum of understanding builds on the partnership already signed between the two parties to offer BYD lease options to Brazil. Arval operates as a white label leasing partner for Chinese automakers in Italy, Spain and Germany. Michael Hsu, Managing Director of BYD Europe, said:

BYD attaches great importance to cooperation and partnership. The Memorandum of Understanding with Arval marks the company’s commitment to work together towards achieving the joint goal of making electric mobility available to everyone by offering customers choice and flexibility while guaranteeing premium his services. This is an opportunity to check out our efforts.

BYD’s advanced innovation in vehicle electrical technology and Arval’s expertise in long-term corporate car leasing are mutually beneficial. This partnership will enable us to offer competitive solutions to both businesses and individuals.

Through this agreement, Arval will help potential customers find and lease the best BYD EV for their needs, with a charging service package included with each leased vehicle that includes a card for use at home stations and public stations. We provide. Part of a reimbursement program for used electricity.

In its first year overseas, BYD launched five EV models in 19 European countries. With Arval’s backing, BYD’s leasing program could further increase the company’s saturation in one of the world’s largest auto markets.