Arval, a vehicle leasing company and specialist in mobility solutions, announces the signing of a Memorandum of Understanding with BYD, a global leader in electric vehicle manufacturing.
The aim for which Arval is now adding BYD vehicles to its leasing portfolio dedicated to businesses and individuals is to support its clients’ fleets transition to electric cars.
The agreement identifies key areas of cooperation between both firms to assist private clients in switching to electric vehicles and advise local and international corporate clients on accelerating their fleet electrification strategy for passenger cars and light commercial vehicles, as well as new energy solutions combining battery-powered vehicles, energy storage, and solar systems.
BYD’s electric car lineup provides Arval’s clients with a broader selection to choose from and encourages car policies to include electric vehicles, while supporting the transition to electric propulsion systems.
The memorandum of understanding was signed during an official ceremony held at BYD’s global headquarters in Shenzhen, China, in the presence of Michael Shu, CEO of BYD Europe, Alain Van Groenendael, President and CEO of Arval, and other representatives from both parties.
Michael Shu underlined, “Our memorandum of understanding with Arval is an opportunity that affirms our commitment to working together to achieve our joint goal of making electric mobility accessible to all by giving customers choice and flexibility while ensuring premium service.”
He went on to say, “BYD’s advanced innovations in electric technology for vehicles and Arval’s expertise in long-term corporate car leasing are mutually beneficial. This partnership enables us to provide competitive solutions to both businesses and private individuals.”
Alain van Groenendael declared, “Fleets energy transition necessarily goes hand in hand with the evolution of a complete ecosystem made of different actors, all moving together to reach a common objective. We are delighted and proud to partner with BYD, a company built on change and innovation, and to add their battery electric vehicles to our portfolio.”
“Our clients need accessible, attractive, and qualitative options for their fleet, and this is what we strive to offer them,” he added,
Founded in 1995, BYD is the only NEV producer to have developed its own powertrain systems, power batteries, automotive semiconductors, motors and motor controller systems.
The company first introduced its innovative electric passenger car range to European consumers in 2022.
Within just one year, BYD has since engaged in a programme of 5 models launches in 19 countries across Europe, offering advanced EV technologies developed for safety, efficiency and performance.
In 2023, the firm has historically achieved sales of over 3 million new energy vehicles.