Chery establishes UK financial services partnership

By automotive-mag.com 3 Min Read

Chery International, parent company of Omoda and Jaecoo, has signed a financial services partnership with BNP Paribas Personal Finance UK and Arval UK.

The partnership was secured following a competitive tender process. It will provide Omoda and Jaecoo dealers and customers with a full range of flexible finance solutions.

Victor Zhang, Executive Vice President at OMODA & JAECOO UK, said: “We have big ambitions for Europe and have worked hard to try to bring the best products.

“However, we know that in the oldest automotive market in the world, we need to have the best partners to offer our customers the best experience throughout their journey with us.

“We’re delighted to be working with BNP Paribas in the UK. This is an exciting partnership with a very experienced company and experts in their field.

“Together we can develop what we feel will be not only a very competitive offering but something special for a newcomer to this competitive market.”

BNP Paribas Personal Finance UK will provide consumer finance, and Arval UK will offer fleet and contract management services.

Stephen Hunt, CEO of BNP Paribas Personal Finance UK, said: “With this expansion of our motor finance solutions into the new car sales segment, this partnership with a fast-growing OEM is the first of its kind for the UK and forms part of BNP Paribas Personal Finance’s wider ambitions to further establish itself as a leading provider of finance solutions in the automotive market in the UK and across all major European markets.”

Lakshmi Moorthy, MD of Arval UK, said: “We’re delighted to have been chosen as the partner for OMODA and JAECOO UK, to provide contract hire for their customers and support their dealer network.

“These are two exciting new brands and we look forward to assisting their growth in the UK.”

 

 

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