Chinese brands Omoda and Jaecoo are launching in the UK with the help of a financial services partnership with BNP Paribas Personal Finance UK and Arval UK.

Arval UK will offer fleet and contract management services for Omoda and Jaecoo

The strategic partnership will provide a full range of flexible finance solutions for the brands’ combustion engine and electric vehicles for both consumers and fleets, drawing on BNP Paribas’ combined expertise and capabilities. BNP Paribas Personal Finance UK will provide consumer finance, and Arval UK will offer fleet and contract management services.

Omoda and Jaecoo’s parent company Chery International awarded the deal following a competitive tender process to support its plans for the UK, along with its wider expansion into Europe.

Chery International is the largest automotive exporter in China, and collectively Jaecoo and Omoda are one of the fastest growing automotive brands in the world.

Initially, Omoda will launch two car models, the 5 and E5, which will be available for purchase from July 2024 at 62 retailers across the UK — before Jaecoo releases its first model later this year.

Lakshmi Moorthy, managing director of Arval UK, said: “These are two exciting new brands and we look forward to assisting their growth in the UK. It is further evidence of the appeal of the combined capabilities of BNP Paribas Personal Finance and Arval in providing the full range of products to support manufacturers in the UK and across Europe.”

BNP Paribas said the partnership underscores its strategy of supporting OEMs across multiple markets.

Stephen Hunt, CEO of BNP Paribas Personal Finance UK, commented: “We have built a business that is focused on building strong partnerships and it is an exciting time as we push further into the UK automotive market. I am confident that we will bring the same level of innovation and service as we have brought to the retail sector and our 4 million UK consumers.

“With this expansion of our motor finance solutions into the new car sales segment, this partnership with a fast-growing OEM is the first of its kind for the UK and forms part of BNP Paribas Personal Finance’s wider ambitions to further establish itself as a leading provider of finance solutions in the automotive market in the UK and across all major European markets.”

Victor Zhang, executive vice president at Omoda & Jaecoo UK, said: “We have big ambitions for Europe and have worked hard to try to bring the best products. However, we know that in the oldest automotive market in the world, we need to have the best partners to offer our customers the best experience throughout their journey with us.”

He continued: “This is an exciting partnership with a very experienced company and experts in their field. Together we can develop what we feel will be not only a very competitive offering but something special for a newcomer to this competitive market.”