It is learned from BYD, on October 18, local time, BYD Brazil Branch (hereinafter referred to as BYD) and Santander Bank, a leader in the local auto finance industry, formally reached a strategic cooperation in auto finance. This is another important measure to help the development of the local new energy vehicle industry after BYD officially entered the Brazilian passenger car market last year.

 

Through this strategic cooperation, Brazilian consumers can enjoy comprehensive digital auto finance solutions, including credit assessment, credit review and payment solutions, when purchasing BYD vehicles, and experience more flexible and convenient financial loan services. In addition, Santander Bank will provide BYD’s dealers in Brazil with a fully digital revolving credit line through the “Floor Plan” financial model, and provide loan concessions for dealers to purchase cars.

Henrique Antunes, Sales Director of BYD Brazil, said: “Santander Bank is a highly engaged and experienced financial institution with strong relationships with major Brazilian automakers and a representative of the local auto finance sector.
In the future, we will further penetrate into the Brazilian market and jointly promote the development of local new energy vehicles, for which we are fully confident.”

André de Carvalho Novaes, Director of Financing at Santander, said: “The digital platform provided by Santander Bank to BYD can complete a customer’s credit analysis in seconds. In addition, consumers will also enjoy other customized financial services related to the purchase of electric vehicles, such as preferential policies for auto insurance. We provide digital services to customers, which is also the embodiment of BYD’s innovation, reliability and sustainability. We are very honored to cooperate with BYD. BYD has won many awards in the global new energy vehicle market. In the future, both parties will work together for this.”

In addition to the automobile business, BYD Brazil is also committed to providing local new energy solutions and providing photovoltaic module products to customers through dealers. In Brazil, Santander Bank is also a leader in financing solutions in this field, and also provides financing services to BYD’s dealers in the photovoltaic field.

At present, in the passenger car field, BYD has 9 stores in Brazil, and is expected to launch business in 45 cities by the end of this year, and set up 100 stores by the end of 2023.