OMODA & JAECOO VEHICLES LAND AT HEAD OFFICE TO CELEBRATE LAUNCH OF NEW MOTOR FINANCE SOLUTION

2024-07-23 11:29:44.0

We’re thrilled to announce our new partnership with OMODA & JAECOO, bringing flexible and reliable finance solutions to the new car sales market.

Who are OMODA & JAECOO UK?

OMODA & JAECOO are two sub-brands of Chery, one of the largest automotive manufacturers in China, making waves globally as two of the fastest-growing automotive brands.

For OMODA & JAECOO UK, this partnership signifies their expansion into Europe as they’ve launched the OMODA 5, with both electric and internal combustion engine models. The OMODA 5 is now available at 62 dealers across the UK — with additional models being rolled out later this year.

Victor Zhang, Executive Vice President at OMODA & JAECOO UK shared his thoughts on the partnership: “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."

What does this partnership mean for us?

This partnership with a fast-growing original equipment manufacturer (OEM) is the first of its kind and forms part of our wider ambitions to establish ourselves further as a leading provider of finance solutions in the automotive market.

Whilst BNP Paribas Personal Finance UK is already heavily established in the used car sales market, partnering with OMODA & JAECOO UK enables us to expand our motor finance solutions, providing dealers in the new car sales market with reputable finance solutions.

We spoke to Stephen Hunt, CEO of BNP Paribas Personal Finance UK, who shared his thoughts on this partnership: “We have built a business that is focused on building strong partnerships and it is an exciting time as we push further into the UK automotive market. I am confident that we will bring the same level of innovation and service as we have brought to the retail sector and our 4 million UK consumers.

“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.”

This partnership has been developed in partnership with Arval UK — a major actor in full-service vehicle leasing and a specialist in mobility solutions, leasing more than 1.7 million vehicles as at the end of December 2023. Within the UK, it leases more than 194,000 vehicles of which almost 48,000 are electric.

Lakshmi Moorthy, Managing Director of Arval UK, also commented on the partnership: “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. It is further evidence of the appeal of the combined capabilities of BNP Paribas Personal Finance and Arval in providing the full range of products to support manufacturers in the UK and across Europe.”

The start of a brilliant partnership

The first of OMODA & JAECOO’s vehicles have launched in dealerships across the UK, thanks to this partnership.

We’re delighted to have supported OMODA & JAECOO’s entry to the UK new car sales market, as well as expanded our own motor finance solutions, so we can support a wider proportion of the UK.

The partnership has been well-received by our colleagues, who were delighted to see two new OMODA 5 vehicles on-site at our Solihull office this week.

These stunning models were on display to colleagues, enabling them to be among the first to see the cars in the UK, and showcasing to the wider business our new partnership with OMODA & JAECOO UK — marking a significant step forward in expanding our motor finance solutions.

Keep up to date with all the latest announcements from BNP Paribas Personal Finance UK via LinkedIn and X.