BYD, the world’s leading manufacturer of new energy vehicles, recently formed a strategic partnership with Santander Bank (Santander) in Mexico, a multinational banking group, laying the cornerstone for BYD’s expansion into the Mexican passenger vehicle market, further promoting sustainable mobility in the market.
Through this strategic cooperation, BYD is enabled to provide local consumers with a full range of auto finance solutions. Specifically, this partnership seeks to facilitate access to all new energy BYD vehicles to customers and non-customers of the Bank with an offer of a 10% down payment and financing of up to 72 months, in addition to plans with 0% commission for opening.
Zhou Zou, Country Manager of BYD Mexico, said, “Our strategic cooperation with Santander aims to provide local consumers with first-class auto finance services and solutions, and reduce the financial risks of dealers and customers, promoting the transformation to green mobility.”
“At Santander, we continue to seek new partnerships to make it easier for our customers to acquire vehicles. On this occasion, we are pleased to go hand in hand with BYD”, said Julio Ascorve Zermeño, CEO of Automotive Financing at Santander Mexico. “By financing these vehicles, we contribute to reducing emissions which gives us an important edge in line with our values of sustainability and commitment to the environment.
Spurred by explosive demand growth in recent years, the global new energy vehicle industry has been developing rapidly. As a global green technology leader and a big contributor to combat climate change, BYD sold over 1.86 million passenger vehicles globally in 2022, soaring 155.1% year-on-year. The enterprise has been working on the electrification of urban public transport to reduce global carbon emissions, with the aspiration of “Cool the Earth by 1°C”. With its global vision and international footprints, BYD is well on its way to exploring global markets. This cooperation marks a new step in increasing BYD’s presence in the Latin American market.
In the future, BYD will continue to leverage its market-leading core technologies to enrich its product matrix for Mexican consumers and establish a localized sales and service system to create a better mobility experience for local consumers.