Automotive News Europe — 2024-02-08
Automotive Industry
BYD, China's largest electrified-vehicle maker,will provide electric vehicles to European leasing company Arval to accelerate an expansion in Europe.
Under a memorandum of understanding the two companies signed this week, BYD electric vehicles and light commercial vehicles will be incorporated into Arval’s fleet, BYD said.
The vehicles will be initially made available for private and corporate customers in Germany, Italy and Spain.
BYD started selling imported electric sedans and crossovers in Europe in 2022. It has established more than 250 stores in 19 European countries including Italy, Spain, Germany, the UK and France.
Last week, the Chinese company signed an agreement with the local government to acquire land for its first European passenger car plant in Szeged, Hungary.
The factory, slated to launch output within three years, will serve as BYD’s EV production hub for Europe.