Categories: News

Leasing: BYD signs a major partnership and targets Europe!

BYD plans to extend its presence in Europe through leasing. The Chinese manufacturer has recently entered into a significant partnership to achieve this.

The Chinese manufacturer BYD has signed a partnership with the leasing company Arval. This company, which is owned by BNP Paribas, is expected to enable BYD to continue growing in Europe.

Heading to Europe!

Arval and BYD have signed a significant partnership to offer leased BYD cars. In the official press release, we can read, “The MoU identifies key areas of cooperation between Arval and BYD with the aim of helping individuals make the switch to electric vehicles.”

Officially, as of now, BYD’s leasing options will be available in Brazil and in several European countries such as Spain, Germany, and Italy. It is also expected to be available in France in the coming months.

BYD models will not be eligible for the social leasing program set up by the government, so BYD has turned to leasing company Arval. The goal of BYD is to establish a presence in Europe, and the company is currently constructing a factory in Hungary with an undisclosed opening date.

Social leasing in France is expanding

The French government has implemented social leasing since January 1, 2024, offering electric cars for less than 100 euros per month to eligible households. The range of models available under this program is continually expanding, with currently 8 manufacturers offering at least 1 model within the social leasing framework.

The offer includes models from Fiat, Hyundai, Jeep, Nissan, Opel, Renault, Peugeot, and Citroën. Renault offers the most extensive range of models under the social leasing program.

This comprehensive offer will pose competition to the leasing options that BYD plans to introduce with Arval. It remains to be seen what rates will be announced later.

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