Chinese EV leader BYD Company (OTCPK:BYDDY) inked a purchase agreement with Germany mobility and car rental company SIXT on Monday.
Per the terms of the deal, the Pullach, Germany-based company committed to buying around 100K electric vehicles from BYD Company (OTCPK:BYDDY) over the next six years. A statement from SIXT, “several thousand of pure-electric vehicles from BYD” will be ordered in a “first step” to take place over the course of the fourth quarter. The two companies also “potential cooperation opportunities” will be pursued in other regions across the globe.
“Cooperations are a core part of the BYD business strategy. 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,” Michael Shu, General Manager and Managing Director of the BYD Europe and International Cooperation Division, said. “Our shared vision allows us to build our green dreams together, initially starting in Europe…We look forward to a long and flourishing partnership with SIXT.”
Vinzenz Pflanz, Chief Business Officer at SIXT, added that the deal works toward the rental company’s carbon emission reduction goals.
Read more on recent sales data from BYD.
Read the original article