Car Inc, a Chinese car rental company, has announced plans to expand its purchases of BYD vehicles in the summer of 2025. This decision comes after the successful deployment of the first BYD vehicles purchased by Car Inc during the Labor Day holiday earlier this month.
The strategic partnership between BYD and Car Inc aims to broaden the potential customer base for BYD vehicles. The two companies recently signed a strategic cooperation agreement at BYD’s global headquarters in Shenzhen, with BYD chairman and president Wang Chuanfu and Car Inc chairman Yu Hongfei in attendance. This agreement signifies a commitment to promoting the sustainable development of green mobility and the car rental market.
Following their initial collaboration in April, Car Inc has already put the first batch of BYD vehicles into operation, including models such as the Qin Plus DM-i and Fang Cheng Bao’s Bao 8. Encouraged by positive feedback from the market, Car Inc plans to increase its purchases of BYD vehicles in the upcoming summer.
In addition to expanding their vehicle procurement program, the two companies will collaborate on initiatives such as introducing new energy vehicle (NEV) models, conducting test drives, and joint marketing efforts. Car Inc, as China’s largest directly operated car rental platform, boasts a fleet of 160,000 vehicles, a service network spanning over 300 cities, and 175 million registered users.
This partnership marks a significant move for BYD, as the NEV giant aims to target regular users in the passenger car market. Recently, BYD unveiled its new all-electric sedan e7, priced at RMB 103,800 ($14,400), which is expected to cater to the shared mobility market. In April, BYD reported selling 380,089 NEVs, marking a 21.34% increase year-on-year.
Looking ahead, BYD has set ambitious targets, aiming to sell 5.5 million vehicles in 2025, with over 800,000 of those sales expected to come from overseas markets. The company’s strong performance in the NEV sector, including a 46.98% year-on-year increase in NEV sales from January to April, indicates a promising trajectory for BYD’s growth and expansion.
In conclusion, the strategic partnership between BYD and Car Inc underscores a shared commitment to advancing green mobility solutions and expanding market reach in the car rental industry. With a focus on innovation and sustainability, both companies are poised to drive positive change in the automotive sector and meet the evolving needs of customers in the years to come.
