Arval becomes BYD’s white-label leasing partner in Europe
Arval is entering into a strategic partnership with EV car manufacturer BYD. “By joining forces, we will encourage more companies and individuals to switch to electric mobility”, says Alain Van Groenendael, Chairman and CEO of Arval (pictured right).
Last Friday, Arval shared its 2023 results and 2024 prospects with us. Today, the Paris-based leasing and mobility specialist announces that it will be BYD’s white-label leasing partner in Europe. The partnership kicks off in Germany, Italy and Spain, and will potentially be rolled out across Europe.
“This means that we now have four countries where we operate as BYD’s white-label partner, as earlier this year we announced a similar partnership for Brazil”, says Bart Beckers, Deputy CEO and CCO at Arval.
BYD is one of many OEMs that Arval is partnering with. The leasing company has a total of 69 partnerships with 14 manufacturers.
Accelerating Fleet Electrification
There is a second pillar to the Arval-BYD partnership: a Memorandum of Understanding that discusses how both partners can cooperate on speeding up electrification. The MoU was signed at BYD global HQ in Shenzen (China), by Michael Shu, the Managing Director of BYD Europe (pictured left); and Mr Van Groenendael for Arval.
Two salient points from the MoU:
- To support the electrification of corporate fleets and the private market, Arval will add BYD passenger cars and LCVs to its leasing portfolio for both corporate and private customers.
- As part of the collaboration, Arval and BYD will also advise corporate customers on new energy solutions that combine battery-powered vehicles, solar energy systems, and energy storage.
With its ambition to become a green energy distributor and the recently launched Arval Charging Services (see Friday’s article), Arval certainly has already gone a long way towards offering its customers a comprehensive ecosystem for managing and charging EVs. It’s an essential part of the company’s overall electrification goals. By 2025, Arval aims to have 350,000 battery-electric vehicles in its fleet, and 700,000 electrified vehicles overall. Today, it has 166,000 BEVs.
“BYD is a company built on change and innovation. We are delighted and proud to partner with them and to add their BEVs to our portfolio”, says Mr Van Groenendael. Our clients need accessible, attractive, and high-quality EV options for their fleet, and that is what we aim to offer.”
“We believe strongly in this partnership with BYD”, adds Mr Beckers. “They have first-class knowledge and expertise in EV technology and battery technology. We’re convinced that this partnership will bring EVs closer to our customers – whether they’re large multinationals or private consumers.”
Speaking for BYD Europe, Mr Shu says: “This MoU is an opportunity to prove our commitment to collaboration towards our common goal of making electric mobility accessible to all. We do this by giving customers choice and flexibility, while ensuring premium service.”
“BYD’s advanced innovations in EV technology and Arval’s expertise in long-term corporate car leasing are mutually beneficial. As a result, this partnership will provide competitive EV solutions to both businesses and private individuals.”
BYD introduced its EV range in Europe in 2022. Today, the company offers five models in 19 countries across the continent. In 2023, BYD passed a global sales milestone, selling more than 3 million new energy vehicles.