Chinese BYD Signs Unprecedented Partnership With Santander to Finance Electric Cars Through 100% Digital Platform

BYD, A Chinese Multinational, Has Closed A Partnership With Banco Santander To Finance Electric Cars Aiming To Boost The Sale Of Sustainable Vehicles In Brazil.

BYD, while strengthening its network of stores in Brazil, announces a partnership to boost the purchase of electric and hybrid cars from the brand. Being something unprecedented outside China, the agreement with Banco Santander will provide financial solutions for all stages of financing electric cars, from analysis to credit approval, including payment plan options, with the entire process done online.

Partnership Between BYD And Banco Santander Aims To Meet The Demands Of The Automaker’s Dealership Network

As a leader in car financing in Brazil, Banco Santander holds a 25% market share in this segment. With the partnership, BYD provides an option to purchase vehicles and accessories from the brand.

In addition to end customers, the partnership with Banco Santander will also meet the demands of the BYD dealership network through the Florr Plan, which is a single-use, fully digital line of credit with special conditions for the purchase of BYD Brazil vehicles by the affiliated network.

According to the director of Santander Financiamentos, André Novaes, Banco Santander will provide BYD with a fully digital platform that enables customer credit analysis in just a few seconds. According to Novaes, the brand’s consumers will have access to the bank’s differentiated financing conditions for electric cars, as well as additional advantages, such as the ability to purchase insurance through Santander that dilutes the value of the contract installments.

Locations of BYD Dealerships

In addition to electric cars, BYD dealerships will offer customers a complete solution for renewable energy generation through solar energy modules produced by the automaker, which will also be financed by Santander.

The bank is also a leader in financing solutions for this sector in Brazil. Currently, BYD’s network of stores in Brazil has nine operational sales points: Eurobike BYD in Goiânia (GO), Vitória Motors BYD in Vila Velha (ES), BYD Gogreen in Belo Horizonte (BH), Itavema in Rio de Janeiro, Eurobike Ribeirão Preto (SP), Servopa BYD in Curitiba (PR), Eurobike São Paulo (SP), Carmais in Fortaleza (CE), and the BYD Original concept store located in São José dos Campos (SP).

The multinational BYD already has appointments for dealerships in 31 of Brazil’s major cities. The forecast is to end this year with a presence in 45 municipalities and reach 100 locations in Brazil by the end of next year. Currently, the Chinese automaker sells more of the Tan, Han, Song Plus, and D1 models.

BYD Opens New Unit In The Northeast

BYD recently announced the opening of its first unit that will sell electric and hybrid cars in the Northeast region. The Carmais BYD, named due to the partnership with the Carmais Group, is located at Avenida Barão de Studart, 1630, in the Aldeota neighborhood of Fortaleza.

The Carmais Group is one of the leaders in the sale of new vehicles in Ceará and has dealerships established in 20 strategic cities in the states of Rio Grande do Norte and Ceará, with major Brazilian automobile, motorcycle, and truck brands.

According to the director of the Group, Júlio Ventura, it is a significant undertaking, but it generates motivation and a great sense of pride to represent BYD in the state of Ceará, a brand that focuses on sustainability, safety, sophistication, and high technology. Ventura states that the company is ready to embark on a new innovative experience with electric and hybrid cars from the automaker.