Ayvens signs fleet funding deal with Chinese carmaker BYD

Ayvens – still ALD Automotive LeasePlan in the UK – has signed a Memorandum of Understanding (MoU) with BYD to support the Chinese carmaker’s European expansion.

The vehicle leasing company says its customers will benefit from tailored electric vehicle (EV) fleet solutions, from advisory services and operational leases to end-to-end charging services, for BYD’s full range of EVs.

Ayvens will also offer white labelled full-service leasing services to SMEs and private customers through BYD’s dealer network.

Operational leasing services will be available initially in France, the Netherlands, Belgium and Luxembourg, with further expansion expected in additional European markets.

The pair say they will actively explore more opportunities within retail, further developing white label operational lease cooperations, to nurture the transition to electrification.

Tim Albertsen, group CEO of Ayvens, said: “BYD is clearly at the forefront in new energy vehicle development, and we are pleased to be joining forces with them to expand the availability of electric vehicles in Europe, as well as working together to further innovate around electric vehicles and battery technology.”

The MoU was signed by Albertsen and Stella Li, executive vice president of BYD, during a ceremony at BYD’s global headquarters in Shenzhen, China, in the presence of Wang Chuanfu, chairman and president of BYD Company and other representatives from both companies.

Chuanfu, BYD’s president, said: “Innovation and collaboration are key drivers in progressing the global transition to new energy vehicles.

“Our cooperation with Ayvens reflects our mutual vision to accelerate the development of new markets in Europe.

“Together we offer diverse, accessible and appealing products with pioneering innovation to incentivise the advancement of eco-friendly lease fleets.

“Globally, BYD innovation in sustainable technology is inspiring the future of mobility and delivering exceptional EV experiences, while fulfilling goals to help reduce carbon emissions.”

The MoU will also allow the two companies to collaborate through training programmes and knowledge-sharing initiatives to foster a culture of continuous improvement and innovation around new energy vehicles and battery technology.

The Ayvens deal comes Chery International, parent company of Chinese car brands Omoda and Jaecoo, signed a financial services agreement with BNP Paribas Personal Finance UK and Arval UK. 

The deal followed a competitive tender process to provide UK dealers for Omoda and Jaecoo and fleet customers with a full range of finance solutions.