Monday 13 March 2023

Octopus and BYD seal deal, as brand hits UK

As Chinese electric vehicle (EV) maker BYD enters the UK market, it has agreed a deal with Octopus EV – seeing 5,000 of its cars bought by the company for its customers.

BYD is launching the Atto 3 as its first EV in the UK, with this purchasing deal with Octopus representing the largest to date of its kind for the Chinese business.

Octopus will become BYD’s preferred salary sacrifice provider – providing up to 30% off the upfront cost of the car, which will be the cheapest offer for leasing the newest cars to hit British roads.

Octopus EV has received more than $900 million (£745m) in the last two years, with its aim being to make it an easier process to get drivers to make the green switch.

Michael Shu, MD at BYD, said: “We are delighted to enter this cooperation with Octopus EV. This is an exciting new chapter for BYD as we bring our latest products and leading technologies to customers in the UK.”

“Being able to partner with BYD as they launch in the UK is a real milestone. They’re a global leader and we’re looking forward to being able to offer our service to customers - accelerating our growth and moving us another step closer to zero-emission transport in the UK,” Octopus EV’s Oliver Boots added.