Arval UK to offer fleet hire to Chinese newcomers Omoda and Jaecoo

Exciting News! Two prominent Chinese automotive brands, Omoda and Jaecoo, are set to make their grand entrance into the vibrant UK market thanks to a strategic financial services partnership with BNP Paribas Personal Finance UK and Arval UK. This collaboration aims to provide an extensive range of flexible finance solutions for both combustion engine and electric vehicles to cater to consumers and fleets alike, leveraging the expertise and capabilities of BNP Paribas.

Chery International, the parent company of Omoda and Jaecoo, selected BNP Paribas and Arval UK after a rigorous tender process to support their UK expansion plans and broader European ambitions. As the largest automotive exporter in China, Chery International, along with the rapidly growing Jaecoo and Omoda brands, are poised to make a significant impact in the global automotive arena.

Initially, Omoda will unveil two exciting car models, the 5 and E5, which will hit the UK market in July 2024 through 62 retail outlets. Meanwhile, Jaecoo is gearing up to introduce its debut model later this year, promising innovation and style to UK consumers.

Lakshmi Moorthy, the managing director of Arval UK, expressed enthusiasm about the partnership, stating, “These are two exciting new brands, and we look forward to supporting their growth in the UK market. It demonstrates the appeal of the comprehensive product offerings by BNP Paribas Personal Finance and Arval, aimed at supporting manufacturers in the UK and Europe.”

BNP Paribas emphasised that the partnership aligns with their strategy of assisting OEMs across various markets. Stephen Hunt, CEO of BNP Paribas Personal Finance UK, added, “As we venture deeper into the UK automotive market, our focus remains on fostering strong partnerships and delivering innovative services. This collaboration with a rapidly expanding OEM marks a significant milestone for us as we establish ourselves as a key finance solutions provider in the automotive sector across the UK and Europe.”

Victor Zhang, the executive vice president at Omoda & Jaecoo UK, affirmed the brands’ ambitious plans for Europe, stating, “We are determined to offer top-tier products to our customers in the UK and beyond. Partnering with industry experts is crucial for us to ensure our customers have an exceptional experience throughout their journey with us.”

He further added, “This partnership with seasoned professionals is a testament to our commitment to delivering not just a competitive product offering but a truly unique and exceptional experience for customers in this highly competitive market.”