BNP Paribas Personal Finance UK and Arval UK have won a competitive tender process to assist Britain’s drivers with their purchases from the Chinese automotive brands Omoda and Jaecoo.
Their agreement with Chery International, the owner of the Omoda and Jaecoo brands, will support UK franchised dealers with a full range of finance solutions for the purpose of sale.
Chery International is the most important automotive exporter in China, and collectively Jaecoo and Omoda are considered one of the fastest growing automotive brands on this planet.
The collaboration will support their further expansion into Europe, launching within the UK automotive market, with each internal combustion engines (ICEs) and electric vehicles (EVs).
BNP Paribas Personal Finance UK will provide consumer finance, and Arval UK will offer fleet and contract management services.
Initially, Omoda will launch two automotive models, the Omoda 5 and E5, which will likely be available for purchase from July 2024 at 62 retailers across the UK — before Jaecoo releases its first model later this 12 months.
Victor Zhang, executive vp at Omoda and Jaecoo UK, said: “We have now big ambitions for Europe and have worked hard to attempt to bring the very best products. Nonetheless, we all know that within the oldest automotive market on this planet, we want to have the very best partners to supply our customers the very best experience throughout their journey with us.
“We’re delighted to be working with BNP Paribas within the UK. This is an exciting partnership with a really experienced company and experts of their field.
“Together we will develop what we feel will likely be not only a really competitive offering but something special for a newcomer to this competitive market.”
Stephen Hunt, CEO of BNP Paribas Personal Finance UK, said: “We have now built a business that is concentrated on constructing strong partnerships and it’s an exciting time as we push further into the UK automotive market.
“I’m confident that we’ll bring the identical level of innovation and repair as we now have dropped at the retail sector and our 4 million UK consumers.
“With this expansion of our motor finance solutions into the brand new automotive sales segment, this partnership with a fast-growing OEM is the primary of its kind for the UK and forms a part of BNP Paribas Personal Finance’s wider ambitions to further establish itself as a number one provider of finance solutions within the automotive market within the UK and across all major European markets.”
This Article First Appeared At www.am-online.com
