BYD Expands in Europe through Partnership with AyvensSA

TapTechNews July 5th news, BYD continues to expand its European business by developing local partners in the European region. On July 2nd local time, BYD announced that it signed a memorandum of understanding with Ayvens SA, an automobile leasing company controlled by Société Générale, to cooperate in supporting the electrification transformation of electric vehicles in Europe.

Wang Chuanfu said: Our cooperation with Ayvens reflects the common vision of both parties to accelerate the development of the new energy vehicle market in Europe. We will work together to provide diverse, easy-to-use and highly attractive products, as well as industry-leading innovative technologies to promote the progress of eco-friendly leasing fleets.

Both sides said that this cooperation will include BYD passenger cars and light commercial vehicles in the plan, and will initially carry out business in France, the Netherlands, Belgium and Luxembourg. Ayvens is expected to cooperate with BYD to provide commercial and retail leasing services for more than 30 European companies within one year.

As one of the largest electric vehicle manufacturers in the world, BYD has been constantly striving to expand its influence in Europe. TapTechNews noticed that BYD recently also sponsored the 2024 UEFA European Championship (Euro 2024) to increase its influence in the region, and built a new factory in Hungary to increase production in the region.

It is worth mentioning that BYD also signed an agreement with the car rental company Sixt in 2022 and will provide 100,000 vehicles by 2028. So far, BYD has been constantly striving to build an extensive distribution network covering Europe.

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