According to Bloomberg News, BYD will cooperate with French car rental company Ayvens SA.
This cooperation will allow BYD to expand its business in the European market and better enter Europe’s lucrative corporate market.
BYD Yuanplus.
Photo source: BYD, the two companies said on July 2 that this cooperation will include passenger cars and light commercial vehicles in the plan and will be the first to conduct business in France, the Netherlands, Belgium and Luxembourg.
Ayvens expects to partner with BYD to provide commercial and retail leasing services to more than 30 European companies within a year.
The corporate fleet market is crucial to driving BYD’s breakthrough in Europe, where BYD, one of the world’s largest electric vehicle manufacturers, has been trying to expand its influence.
BYD has stepped up its activities in the region, sponsoring the 2024 UEFA Championship in Germany (Euro 2024) and building a factory in Hungary to increase production in the region.
, In most major European markets, corporate fleets account for the vast majority of total car sales, highlighting the importance of BYD’s memorandum of understanding with Ayvens, which is controlled by Societe Generale SA.
BYD signed an agreement with car rental provider Sixt in 2022 to provide 100,000 vehicles by 2028.
So far, BYD has been working hard to build an extensive distribution network covering Europe.
Like other Chinese carmakers, BYD faces increasing regulatory obstacles, and the European Union will start imposing additional tariffs on Chinese-made electric vehicles this week.
BYD Motors is expected to be subject to an additional relatively low tariff of 17.4%., Return to the first electric network home page>,.
