Making significant strides in the European market, Chinese automaker BYD Limited has signed a new EV leasing partnership deal with leading car leasing firm Ayvens. This strategic partnership, marked by signing of a Memorandum of Understanding (MoU) by BYD’s Executive Vice President Stella Li, aims to accelerate the adoption of new energy vehicles (NEVs) in highly-promising European markets.

Wang Chuanfu, President and Chairman of BYD, said the newly-signed deal highlighted the two companies’ mutual vision to boost the development and adoption of eco-friendly vehicles in Europe. The collaboration aims to support the distribution of the Chinese brand’s EVs to European commercial as well as retail buyers.

Under the terms of the deal, clients of Ayvens will get access to BYD-branded EVs. In addition, customers will get tailored fleet solutions, including EV leases and comprehensive charging services.

Forst of all, the leasing services for BYD EVs will be made available in France, Belgium, Luxembourg, and the Netherlands. The list is expected to grow soon as many new markets are in line to be added.

BYD has signed the new EV leasing deal with Ayvens as European authorities are preparing to impose hefty tariffs on Chinese EV imports. In spite of this, the Chinese manufacturer expects to overcome this hurdle by shifting the production of some of its vehicles from China to Europe.

In the recent past, BYD has introduced seven new models in Europe, viz. the Atto 3, Dolphin, Tang, Han, Seal, Seal U, and Seal U DM-i.

In the second quarter of this year, BYD sold a total of 426,039 BEVs. With that number of sales, the Chinese brand was slightly behind American electric car pioneer Tesla Inc., which sold 443,956 EVs across the globe. Now, to further boost its sales, the Chinse automaker is trying to expand its footprints in key overseas markets like South Korea, Thailand and Australia, Central America and Latin America.

This strategic partnership between BYD and car leasing firm Ayvens represents a significant milestone in the Chinese automaker’s global expansion. While European authorities are preparing to impose hefty tariffs and on Chinese EV imports, BYD is quite optimistic about its prospects in Europe, thanks to its well-diversified portfolio and competitive pricing strategies. with its customer focused approach and launch of new electric models, the company seems to be all set to make a substantial impact on the global electric car landscape.