German Car Rental Firm Sixt to Buy 100K EVs From BYD

BYD, a new energy giant based in China, announced on October 4 that it has signed a cooperation agreement with Sixt, a leading German car rental company, under which it will provide new energy vehicle (NEV) rental services for the European market, jointly promote the electric transformation of the sector, and help reduce overall global carbon emissions.

According to the agreement, Sixt will purchase at least 100,000 NEVs from BYD throughout the next six years. A variety of high-quality BYD NEVs will serve Sixt customers, including the latest SUV model, Yuan PLUS, which has been launched in Europe. Vehicles will be delivered in Q4 of this year, and the first-stage cooperation markets include Germany, Britain, France and the Netherlands.

Sixt is one of the world’s leading car rental companies, with branches in more than 100 countries and more than 2,100 business outlets, mainly providing high-end car rental services for business, corporate and private users. BYD will help Sixt achieve a goal that the proportion of its electric vehicles will reach 70% to 90% by 2030.

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Michael Shu, General Manager and Managing Director of BYD Europe and the firm’s International Cooperation Division head, said, “We are delighted to start our cooperation with SIXT, the car rental company with the world’s fastest-growing brand value, and a very important key partner to BYD as we take our first steps into the rental market. Our shared vision allows us to build our green dreams together, initially starting in Europe. We aim to inspire SIXT customers with our latest products and innovations in EV technology. These are exciting times for BYD, as our market leading solutions provide greater access and more options for electric mobility. We look forward to a long and flourishing partnership with SIXT.”

Vinzenz Pflanz, Chief Business Officer responsible for sales and vehicle purchases at Sixt, said, “SIXT offers easy-to-use, flexible, and limitless mobility to its customers every day. With over one million units produced from January to August 2022, BYD is the world’s largest vehicle manufacturer in the area of e-mobility. The agreement with BYD is an important milestone to deliver on our promise of putting significantly more e-cars onto the street. We are very much looking forward to our cooperation with BYD.”

German media reported that the new partnership suggests BYD has defeated domestic brand Volkswagen through its huge cost advantage, also reflecting that Chinese car companies have gradually begun to gain a firm foothold in Europe.