Arval signs pan-European deal with Chinese carmaker Zeekr

Arval and BNP Paribas Personal Finance have signed a pan-European deal with Zeekr to provide financing, full-service leasing and insurance services.

Zeekr, part of the Geely Holding Group, released details of its fully-electric, urban compact, luxury SUV, called X, in September.

The car, which is fitted with a 69kWh lithium-ion battery that can deliver a range of up to 278 miles, has initially been launched in the Netherlands and Sweden, and will be available in Germany from 2024.

There is no confirmed launch date or pricing for the UK yet.

Spiros Fotinos, CEO of Zeekr Europe, said: “We are proud to announce that we have established strong financial partnerships with BNP Paribas Personal Finance and Arval, both of which have extensive experience in the automotive financial services space.

“Through these partners, Zeekr Finance, will be able to offer a full suite of products allowing customers to select the one that suits them best. This is a key element of our one-stop-shop strategy that bundles all EV related services into one place.”

Founded in 2021, Zeekr says it wants to take a customer-centric approach, with the business built on a direct sales model using both online and flagship stores.

Alain Van Groenendael, chairman and CEO of Arval said: “This new partnership with a key player is a new step to meet our ambition to lease 700,000 electrified vehicles as part of our global fleet by 2025 and supporting our clients in their energy transition.

“We look forward to developing new journeys and further support them with solutions to successfully engage in the energetic transition challenge and opportunities in Europe.”

As part of the BNP Paribas Mobility initiative, the collaboration with Zeekr also involves other BNP Paribas businesses: BNP Paribas Cardif offers for insurances, Corporate and Institutional Banking (CIB) for full-fledged banking services, including payment services for card transactions through Axepta BNP Paribas.

Charlotte Dennery, CEO of BNP Paribas Personal Finance, said: “We are delighted to begin a strategic partnership with Zeekr.

“BNP Paribas Personal Finance‘s expertise and experience of international mobility financing partnerships are a key asset for making this cooperation a success.

“We are also glad to extend our partnership within the Geely universe, in addition to our existing joint-ventures in China and our cooperations with Volvo and Polestar in Europe.”