ALD and Mitsubishi UFJ join forces in South-East Asia
Car leasing and business mobility company ALD Automotive released a press statement today (March 23rd, 2020) announcing a first joint venture company with Mitsubishi UFJ Lease & Finance Company (“MUL”) in Malaysia. ALD mentions that this first JV will be followed by other collaborations between the two companies, materializing its intentions to develop a full-service operational leasing and fleet management offering across South-East Asia.
The JV combines ALD’s expertise in the vehicle leasing service with Mitsubishi UFJ’s established presence in the region. Tim Albertsen, Deputy CEO of ALD (pictured): “With MUL’s established presence in the region and our industry leading expertise, our strategic partnership will help us to fully develop in all the key markets of South East Asia.” ALD is currently present in Asia through its subsidiary in India, where it has been providing full service leasing and fleet management services for over a decade. Today ALD Automotive is present in 43 countries with a global fleet of 1,76 million vehicles.
Offering complete mobility portfolio
The strategic alliance will ultimately cover different growth markets in the region, but also different service models. The press release refers to mobility products for corporate clients to be offered to the Malaysian customer and quotes MUL’s Senior Managing Executive Officer, Kenji Yasuno saying: “We hope to expand this partnership in the Southeast Asian region together to build a platform which enables us to provide a variety of mobility services to meet the diversified needs of our customers who are currently facing a once-in-a-generation revolution in the mobility industry.”
MUL is a Tokyo-based global leasing company, offering a variety of corporate financing products. It operates an auto leasing business in Japan (Mitsubishi Auto Leasing, jointly owned by MUL and Mitsubishi Corporation).
Both companies plan to combine their respective client bases. Tim Albertsen: “With car markets in South East Asia growing fast and strong global client demand expected in this region, we believe that as an early starter among our European peers, we will be able to develop successfully, as we have done in other emerging markets.”
Copyright picture: Fleet Europe