China automaker BYD has sealed a deal to sell 100,000 electric vehicles to German car rental company Sixt under a new partnership agreement.
The deal comes as China’s EV makers have been stepping up their efforts to make their mark in Europe’s competitive car market.
Nio has already established operations in Norway and has its sights on the Netherlands, Sweden, Germany and Denmark. XPeng entered Norway in 2020 and unveiled its first flagship store on the continent in Stockholm in February.
Under the first stage of the agreement, Sixt is to order several thousand all-electric vehicles from BYD, the first of which will be available to Sixt customers in Europe in the fourth quarter of 2022, the company said in a statement.
Sixt has then agreed to purchase around 100,000 more electric vehicles by 2028, it added.
In addition, BYD and Sixt have agreed to explore opportunities for cooperation in various regions of the world, according to the statement.
Sixt said it will become Europe’s first car rental company to offer BYD vehicles, with the first model to be the BYD ATTO 3, an electric SUV in the C segment.
- Reuters with additional editing by Sean O’Meara