BYD chooses CA Auto Bank to grow in Spain

• The Crédit Agricole Group bank and BYD, a world leader in plug-in vehicles and
  electric batteries, are joining forces to promote the BYD brand in Spain through
  customized financing services for both the dealer network and end users.
• The collaboration will make available attractive and flexible commercial offers.
• With this alliance, CA Auto Bank takes an important step forward in its strategy
  to democratize green mobility.

CA Auto Bank, a subsidiary of Crédit Agricole Consumer Finance, continues to pursue its strategy of promoting green mobility by becoming the financial partner of the Asian giant BYD in Spain. With this agreement, it will offer customized financing solutions for both end customers and the brand’s dealer network.

Models such as the BYD SEAL, a 100% electric D-segment sedan with up to 530 hp and a range of up to 570 km in the combined cycle (WLTP) or the BYD DOLPHIN, a C-segment passenger car that combines a distinctive design with great versatility, agility, and comprehensive standard equipment, as well as the other models available in Spain, will be available through both traditional and innovative and flexible financing plans. In line with new market trends, customers will be able to choose whether they wish to own the vehicle.

Flexible alternatives are also offered, allowing the user to choose at the end of the contract whether to keep the vehicle, return it, or replace it with another from the same company.

CA Auto Bank‘s digital and multi-channel approach makes BYD customers’ buying experience absolutely unique.

Juan Manuel Pino Dronet, Country Manager of CA Auto Bank in Spain, emphasizes the importance of the agreement: ‘Becoming BYD’s brand financial partner is a recognition of CA Auto Bank‘s ability to adapt to the needs of the most demanding customers, as well as its knowledge of the dynamics of a market in which we have been operating for more than 40 years. Our wide range of financing solutions and our flexibility will contribute to BYD’s ambitious growth plan in our country”. He adds: ‘We are very pleased with this partnership which we see as a winwin for both companies”.

CA Auto Bank and BYD share a common mission to promote sustainable mobility through the use of zero- and low-emission vehicles, thereby reducing dependence on fossil fuels. This agreement will allow CA Auto Bank Espana to reaffirm its commitment to democratize the use of electric vehicles and move closer to its goal of becoming the independent partner of the main brands in the mobility sector and, in the medium term, one of the top 3 operators in Spain.

For his part, Jordi Cuesta, BYD Country Manager in Spain and Portugal, pointed out that “at BYD Spain, we are very excited about our collaboration with CA Auto Bank as a financial partner, a company that not only shares values but is also strongly aligned with our strategic direction and the goal of taking an important step forward in the development of BYD’s business in Spain. Our cooperation is an important pillar to offer our dealers and customers a competitive range of financing solutions that contribute to the spread of electric and sustainable mobility in Spain”.

To establish its position in Spain, BYD has a first-class dealer network, with distribution agreements with major market players such as Astara Retail, Icamotor, Quadis and Caetano. CA Auto Bank will work with all of them to provide all financial services for vehicle purchases, both directly to the network and to end customers.