Arval, a leading vehicle leasing and mobility solutions provider, announced a strategic partnership with BYD (Build Your Dreams), a global pioneer in electric vehicle manufacturing. This collaboration is marked by a Memorandum of Understanding (MoU), signaling Arval’s commitment to enriching its electric vehicle (EV) leasing options for both corporate fleets and private customers.
This partnership aims to accelerate the transition to electric vehicles, with Arval integrating BYD’s electric vehicles into its leasing offerings. This move is part of Arval’s broader strategy to support sustainable mobility and the shift towards electrification.
The agreement extends beyond the MoU, with Arval and BYD enhancing their cooperation in key European markets, including Italy, Spain, and Germany. This collaboration is a testament to Arval’s and BYD’s shared vision for promoting electric mobility and sustainable transportation solutions.
BYD, established in 1995, stands out in the new energy vehicle (NEV) sector for its comprehensive development of core technologies, including powertrain systems and automotive semiconductors. The company’s entry into the European market in 2022 with its electric passenger cars was a significant milestone, showcasing its commitment to offering advanced EV technologies focused on safety, efficiency, and performance.
In 2023, BYD achieved a remarkable milestone by selling over 3 million new energy vehicles, underlining its position as a leader in the global EV market. The MoU between Arval and BYD focuses on facilitating the adoption of EVs among private and corporate customers, offering a broad range of electric vehicles and innovative energy solutions.
Key highlights of the partnership include dedicated consulting services, such as Arval’s SMART (Sustainable Mobility and Responsibility Targeting) initiative, and comprehensive offers to promote the adoption of electric vehicles, including Arval Charging Services. These efforts are complemented by Arval Connect, a telematics-based solution that provides valuable insights to guide the electrification of fleets.
Arval’s Chairman and CEO, Alain van Groenendael, emphasized the importance of a collaborative ecosystem to support the energy transition, expressing pride in partnering with BYD to enhance their electric vehicle offerings. Michael Shu, Managing Director of BYD Europe, highlighted the synergy between BYD’s innovative electric technologies and Arval’s expertise in corporate car leasing, underscoring the mutual benefits of this partnership.
This strategic collaboration between Arval and BYD represents a significant step forward in promoting electric mobility and sustainable transportation solutions, offering customers a wider selection of electric vehicles and supporting the global transition to cleaner, more efficient transportation options.