On the evening of February 6th, BYD announced the signing of a strategic cooperation memorandum of understanding with the Arval Group (ARVAL), formally establishing a strategic partnership. This move further promotes BYD's localization process in the European market.
Arval Group, as a wholly-owned subsidiary of BNP Paribas in France, has been established since 1986. With its extensive expertise in vehicle leasing, fleet management, and mobility services, its business has expanded to 29 countries and regions globally, managing over 1.7 million leased vehicles.
According to the memorandum signed this time, Arval Group will introduce the BYD electric vehicle brand to further enrich its global automotive product line, including passenger cars and light commercial vehicles. In addition, both parties emphasize in the memorandum their commitment to providing European customers with electric travel solutions tailored to their emission reduction goals.
In addition to the mobility sector, this cooperation will also encompass a comprehensive package of green solutions including electric vehicles, energy storage systems, and solar systems. The core of this cooperation also includes leveraging BYD's extensive European dealer network to provide customers with high-quality localized services and electric driving experiences.
According to official reports, in 2023, BYD's annual sales of new energy vehicles exceeded 3 million units, winning the global new energy vehicle sales championship, and the globalization process is accelerating.
It is understood that since May 2021, when BYD officially announced its "Passenger Vehicle Going Global" plan, after more than two years of development, BYD's new energy passenger vehicles have entered 59 overseas countries and regions including Germany, Japan, France, Brazil, Australia, and the UAE, covering over 400 cities, and have achieved excellent results in multiple markets.
