EV manufacturer BYD has signed a memorandum of understanding (MoU) with Octopus Electric Vehicles to supply 5,000 new EVs over the next three years.
Via the MoU, Octopus Electric Vehicle, under the Salary Sacrifice scheme, will present one of the most economical ways of leasing a BYD vehicle in the UK, the companies said.
The Salary Sacrifice scheme, which launched in 2021, allows drivers to give up some pre-tax salary in return for a new EV, with Octopus also offering a free home charger and 5,000 free miles on its EV tariff, Octopus Go, or 5,000 free miles on the Electric Juice Network for those without a driveway.
As well as the vehicle, the scheme provides drivers with an all-in-one service, including insurance, tyres, MOT and roadside assistance from the AA.
Customers are able to choose from a wide variety of different vehicles and now, through the partnership with BYD, are able to access these companies array of vehicles as well.
“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, as shown in our innovative range of electric passenger cars, starting with the BYD ATTO 3,” said Michael Shu, general manager and managing director of BYD Europe and International Cooperation Division.
“BYD staunchly believes in partnerships with like-minded organisations, and our shared commitment to eMobility and sustainable innovation for a greener future endorses our mutual aims.”
In early 2022, Octopus was able to grow its scheme via funding provided by HSBC UK.
“When Octopus Electric Vehicles launched, there were only a handful of EVs on the market – we’re now at more than 85 and the figure is rising all the time. Customers have an amazing range of models to choose from, all of which are at the cutting edge of tech and are fun to drive. Being able to partner with BYD as they launch in the UK is a real milestone,” said Oliver Boots, chief commercial officer of Octopus Electric Vehicles.
“They’re a global leader and we’re looking forward to being able to offer our 5* Trustpilot service to customers – accelerating our growth and moving us another step closer to zero-emission transport in the UK.”