Chinese new energy vehicle (NEV) giant BYD has entered into a strategic partnership with car rental firm Car Inc, aiming to broaden its customer base and strengthen its presence in the mobility services sector.
The agreement was signed today at BYD’s global headquarters in Shenzhen, with BYD chairman Wang Chuanfu and Car Inc chairman Yu Hongfei in attendance, according to a statement from the automaker. The companies outlined cooperation for the 2025 summer vehicle procurement program, as well as initiatives to advance the development of green mobility and the car rental market.
The deal builds on an initial collaboration in April, when Car Inc deployed BYD models such as the Qin Plus DM-i and the Fang Cheng Bao Bao 8 during the Labor Day holiday. Positive market response prompted plans for expanded procurement next summer, BYD said.
Beyond fleet expansion, the partnership will also include test drive events, NEV rollouts, and joint marketing campaigns. Car Inc, China’s largest directly operated car rental platform, manages a fleet of 160,000 vehicles and operates across more than 300 cities with 175 million registered users.
The partnership marks a rare foray by BYD into car rental collaborations, as the company typically targets private consumers in the passenger car market. The move comes shortly after the launch of BYD’s new all-electric sedan, the e7, priced from RMB 103,800 ($14,400), aimed at shared mobility users.
BYD reported sales of 380,089 NEVs in April, a 21.3% increase year-on-year. Total NEV sales for the January-April period reached 1.38 million units, up nearly 47% from a year earlier. The company is targeting 5.5 million vehicle sales in 2025, including over 800,000 units in overseas markets.