Arval, a vehicle leasing company and mobility solution, signed an MoU with BYD. Arval will now be adding BYD vehicles to its leasing portfolio. Arval will become BYD white label leasing partner, initially in Italy, Spain and Germany. Arval will lease BYD and provide services in the European market under its own brand name. It will also provide tailor-made solutions to advise companies on choosing the right EVs and managing their charging infrastructure. This partnership will offer customers the opportunity to lease the latest BYD EVs, including the E-Series and Han EV models.
The Memorandum of Understanding (MoU) signed between Arval and BYD goes beyond basic leasing agreements. Their collaboration seeks to explore a variety of topics, including assisting individual customers’ transition to electric vehicles (EVs) through educational programs and incentives. Furthermore, they want to deliver comprehensive solutions by combining battery electric vehicles, energy storage technologies, and solar systems into integrated packages, thereby encouraging sustainable mobility and renewable energy adoption.
The Memorandum of Understanding (MoU) signed by Michael Shu, Managing Director of BYD Europe, and Alain Van Groenendael, Chairman and CEO of Arval, at BYD’s global headquarters in Shenzhen, China. Moreover, Arval will add BYD’s electric passenger cars and light commercial vehicles to its leasing portfolio. The company will offer them to both companies and individuals across Europe. The MoU identifies key areas of cooperation between the two companies. These areas include advising international and local corporate customers on accelerating their fleet electrification strategy on passenger cars and light commercial vehicles. Additionally, the MoU involves providing new energy solutions combining battery-powered vehicles, energy storage, and solar systems.
“We are very proud to be partnering with BYD, a company focused on the EV shift and innovations. We are excited to add their vehicles to our portfolio to support BYD entering the European market,” said Van Groenendael. “Within this intricate and ever-changing market, I firmly believe our collaborative efforts will facilitate greater adoption of electric vehicles.”
Shu said, “The combination of BYD cars utilizes advanced innovation in EV technology. Moreover, Arval’s scope and expertise in corporate and private customers leasing solutions creates a dynamic cooperation.”
The partnership between Arval and BYD is expected to boost the electric vehicle leasing market in Europe. Furthermore, anticipations include its contribution to reducing carbon emissions and promoting a sustainable, clean-energy future.