BYD, the prominent Chinese electric vehicle (EV) manufacturer, has solidified its expansion into the European market through a strategic partnership with Ayvens, a leading car leasing firm.
The Memorandum of Understanding (MoU) was signed by BYD’s executive vice president, Stella Li, marking a pivotal move for the company beyond its home base in China.
See also:Â BYD Sells 341,658 NEVs in June, Marking a 35.02% Year-on-Year Increase
Wang Chuanfu, BYDâs president and chairman, emphasized the significance of the partnership, stating, “This agreement with Ayvens reflects our shared vision to accelerate the growth of NEV markets in Europe.” The collaboration aims to facilitate the distribution of BYD’s electric cars to both commercial enterprises and individual buyers across the continent.
Under the terms of the agreement, Ayvens clients will gain access to BYDâs comprehensive range of EVs, coupled with tailored fleet solutions that include leasing options and comprehensive charging services.
See also:Â BYD Launches Third Electric Vehicle in Japan, Introduces Seal Electric Sedan
Initial rollout of operational leasing services will focus on key markets including France, the Netherlands, Belgium, and Luxembourg, with plans for further expansion.
Despite impending tariffs on Chinese EV imports in Europe, BYD remains optimistic about its market prospects, noting that certain models may prove more profitable in the EU than domestically.
See also:Â BYD Expands Car Insurance Business in China, Targeting 7 Major Provinces
The company has introduced seven new models in Europe, including the Tang, Han, Atto 3, Dolphin, Seal, Seal U, and Seal U DM-i.
BYD’s global expansion strategy extends beyond Europe, with significant investments in markets such as South Korea, Central and South America, Thailand, and Australia. Known initially for its affordable models like the Dolphin, Atto 3, Seal, and Seagull, BYD is rapidly diversifying its lineup to include luxury vehicles, pickups, and electric supercars.
