International Motors Limited (IML) has chosen Lloyds Banking Group to provide finance in the UK for Chinese brand Xpeng.
The electric cars are being distributed through International Motors Finance, a joint venture business between IML and Black Horse, Lloyds Banking Group’s motor finance business.
It will offer Hire Purchase (HP) or Personal Contract Purchase (PCP) products, providing greater payment choice and flexibility for UK customers.
Xpeng UK vehicles will also be available for Personal Contract Hire (PCH) or Business Contract Hire (BCH) through Lloyds Banking Group’s motor leasing business, Lex Autolease.
The ultra-smart XPENG G6 is a mid-size coupe SUV and the brand’s first model launched in the UK.
Nick Williams, managing director for Transport at Lloyds Banking Group, said: “The UK is leading the way in electrifying and decarbonising transport, which is helping to attract new manufacturers, such as XPENG.
“The launch of the G6 model is a great example how the electric car market has evolved to offer cars that deliver great battery performance – with both range and charge time – cutting edge technology and a fantastic driving experience at an affordable price point.
William Brown, managing director at IML, said: “We are pleased to expand our partnership with Lloyds Banking Group and incorporate the exciting and innovative new XPENG brand.
“This support provides our future customers with secure and responsible motoring finance options from established partners, providing additional peace of mind for consumers when considering a new vehicle brand.”
