On February 14, BYD reported that recently, BYD Mexico Branch (hereinafter referred to as BYD) and multinational banking Santander Group (Banco Santander or Santander) formally reached a strategic cooperation in auto finance.
Santander is a leader in the auto finance industry in the Mexican market. This cooperation will lay a solid foundation for BYD to officially enter the Mexican passenger car market and further promote the upgrading of local green transportation consumption.
Through this strategic cooperation, BYD will provide local dealers with a full range of auto finance solutions, including auto inventory financing, risk supervision and control, as well as market profitability and operational guidance. In addition, BYD will also join hands with Santander Bank to provide Mexican end consumers with more favorable and convenient financial services in terms of new energy car purchases, such as providing a down payment as low as 10%, installment payments of up to 72 months, and exemption car loan application fee, etc.
Zou Zhou, country manager of BYD Mexico Branch, said: ” In this strategic cooperation with Santander Bank, we are committed to providing local consumers with first-class auto finance products, services and solutions, reducing the financial risks of car purchases for dealers and end customers, and helping upgrade green transportation consumption.”
Julio Ascorve Zermeño, CEO of Santander Mexico’s auto finance, said that Santander has been working to establish new partnerships to improve the car buying experience for local consumers. “We are very pleased to join hands with BYD, and through cooperation we can contribute to reducing emissions, which is in line with our values of sustainable development and environmental protection.”
In recent years, the global new energy vehicle industry has developed rapidly, and the market has ushered in explosive growth. As a leader in new energy vehicles, by 2022, BYD’s cumulative global sales of passenger vehicles has exceeded 1.86 million, a year-on-year increase of 155.1%, providing a demonstration for the green and low-carbon transformation of the global transportation sector.
With a global vision and a mature international operation model, BYD is actively exploring overseas markets. This cooperation is a new beginning for BYD to further develop the Latin American market.
In the future, BYD will continue to rely on its leading core technologies to provide Mexican consumers with a richer matrix of new energy products, create a complete localized sales and service system, help the development of the local new energy vehicle industry, and make consumers’ electric life within reach.