São Paulo, Brazil – BYD, the world’s leading manufacturer of new energy vehicles, formed a strategic partnership with Santander Bank (Santander), the leading bank in automotive financing in Brazil. This will furnish one-stop auto financing services for the customers, from credit analysis, and credit approval, to payment options through a fully digital platform. Also, the partnership will benefit the local dealers to manage and grow their business of electric passenger vehicles.
Santander provides a wide array of financial products through its digital network, which streamlines and improves the auto financing process. By leveraging the “Floor Plan”, a revolving credit line of exclusive use, the BYD dealership network can acquire the vehicles with favorable conditions. Meanwhile, customers will gain financial solutions for all stages of car financing through a 100% digital procedure.
Henrique Antunes, Sales Director of BYD Brazil, said, “We believe Santander to be a financial institution with significant participation, great market experience, and solid partnership with the main automakers in the country. And we have high hopes that our partnership will help boost sales of electric vehicles.”
André de Carvalho Novaes, Director of Santander Financiamentos, said, “the Bank will make available to BYD a 100% digital platform that allows the customer’s credit analysis in a few seconds. The brand’s consumers will have access to Santander’s differentiated conditions for the acquisition of electric models, in addition to additional advantages, such as the possibility of contracting insurance by Santander Auto, diluting the value in the contract installments.”
He also emphasized that the objective of the partnership is to offer BYD’s customers a complete digital journey, which reflects the brand’s pursuit of innovation, reliability, and sustainability. “We are talking about a multi-award winning brand in the most important global markets. Our responsibility is very great because the experience of consumers within our platform must reflect all the reputation that BYD has acquired in all these years. We are very honored with this partnership”, concluded Novaes.
Besides vehicles, BYD Brazil also offers customers overall new energy solutions, which include the generation of clean energy by photovoltaic modules manufactured by BYD. Santander is also a leader in financing solutions for this segment in Brazil.
Currently, BYD has nine stores in the Brazilian market. Its local presence is expected to reach 45 cities by the end of this year and cover 100 locations in the country by the end of 2023.