A Memorandum of Understanding (MoU) has been signed by BYD and Arval, owned by BNP Paribas, to handle the back-office activities of BYD Lease.
In this way the two companies will better optimise the opportunities across corporate and consumer passenger cars and commercial vehicles across European markets.
The agreement identifies key areas in passenger cars, jointly advising international and national corporate customers on accelerating their decarbonization strategy and electrifying their fleets. In addition to passenger car markets, the Arval and BYD co-operation will also span LCVs (Light Commercial Vehicles) as well as systemic new energy solutions combining battery power vehicles, energy storage and solar systems.
The strategic collaboration will aim to truly differentiate electric mobility solutions and financing for European customers.
The MoU was formalised during an official Signing Ceremony hosted at BYD Global headquarters in Shenzhen, China, in the presence of Michael SHU, Managing Director, BYD Europe, Alain Van Groenendael, CEO of ARVAL, and other representatives from both parties.
Source: BYD
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