BYD, Huasheng Haoche form strategic alliance in NEV leasing field

Shanghai (Gasgoo)- On July 11, BYD signed a strategic cooperation agreement with Chinese auto leasing platform Huasheng Haoche in Shenzhen, marking a major step forward in their joint efforts to accelerate the adoption of new energy vehicles (NEVs), according to a post on the WeChat account of Huasheng Haoche.

The two companies will collaborate across multiple fronts, including NEV leasing, product customization, sales channels, and user services, aiming to unlock new growth opportunities and enhance the consumer car-buying experience.

Mr. Wang Junbao, general manager of BYD's public business division, highlighted the significance of the partnership, calling it a key milestone in the company's "Tech for All" strategy. "Huasheng Haoche' innovative business model perfectly complements BYD's technology-driven development philosophy. Together, we aim to explore emerging markets and deliver more accessible mobility solutions to consumers," Mr. Wang said during the signing ceremony.

Under the agreement, Huasheng Haoche has committed to purchasing 5,000 BYD vehicles annually, spanning the automaker's full range of models. A key focus of the partnership is the creation of a vertically integrated "product + channel + service" model that draws on both companies' strengths.

On the product front, Huasheng Haoche will introduce BYD's most popular models and jointly develop tailored financing solutions to meet the unique needs of lower-tier markets.

In terms of channel synergy, Huasheng Haoche's extensive offline service network—covering over 200 cities across 28 provincial-level regions—will complement BYD's existing distribution footprint, creating a hybrid system of targeted online engagement and immersive offline experiences to boost EV penetration.

Mr. Chen Pengyun, Co-founder of Huasheng Haoche, emphasized the alignment between the two brands: "BYD's product excellence and brand recognition strongly resonate with our customer base. This partnership not only enriches our vehicle portfolio but also makes high-quality NEVs more accessible through flexible financial solutions."