CA Auto Financial institution groups with GAC to drive EV adoption in Europe
French financial institution Crédit Agricole is coming into right into a strategic partnership with GAC Worldwide, the European department of China’s fifth largest automobile producer Guangzhou Vehicle Company (GAC).
The deal will see CA Auto Financial institution supply tailor-made financing options for GAC’s full EV lineup because it prepares to enter the European market in January.
“With its century of expertise and operations spanning 18 European international locations, CA Auto Financial institution is well-positioned to help GAC’s European growth,” stated Stéphane Priami, CEO of CA Private Finance & Mobility.
The financial institution will present versatile and progressive financing choices, together with conventional credit score, leasing, and inventory financing delivered by way of a unified platform to make sure operational effectivity throughout completely different markets.
This partnership aligns with CA Private Finance & Mobility’s broader objective of main Europe’s electrical mobility sector by 2025 and likewise deepens a relationship that started in 2009 with the creation of the GAC-Sofinco three way partnership in China which was additional strengthened when CA Private Finance & Mobility acquired a 50% stake in GAC Finance Leasing Firm.
“By facilitating GAC’s entry into Europe, we’re not solely supporting their enterprise but additionally contributing to the transformation of Europe’s car fleet in the direction of electrical mobility,” stated Priami. “It is a key step in our journey to turning into Europe’s chief in electrical mobility.”
Giacomo Carelli, CEO of CA Auto Financial institution, added: “With CA Auto Financial institution, we carry our experience to assist GAC make a big impression on the European EV market. This partnership demonstrates our dedication to sustainability by selling the transition to zero-emission autos throughout the continent.”
