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15-10-2024
GAC Motor International and Crédit Agricole Personal Finance & Mobility join forces in Europe to entrust CA Auto Bank with the financing of vehicles from the Chinese manufacturer GAC
- Guangzhou Automobile Corporation (GAC), one of the largest Chinese car manufacturers, has chosen CA Personal Finance & Mobility and its subsidiary CA Auto Bank as its financial partner to support the arrival of its 100% electric range in Europe from January 2025 via its subsidiary GAC International.
- GAC International will benefit from CA Auto Bank's strong geographic footprint in Europe and its broad catalog of customizable financing solutions.
- This pan-European partnership is part of CA Personal Finance & Mobility's ambition to become the leader in electric mobility in Europe by 2025.
Crédit Agricole Personal Finance & Mobility will be the financial partner of GAC international’s range of electric vehicles in Europe
From 2025, CA Personal Finance & Mobility, through its subsidiary CA Auto Bank, will be a partner of GAC in Europe. The Bank, a pan-European leader in vehicle financing and mobility, will be alongside GAC International in its arrival on the European market with a range of electrified vehicles, and to assist the manufacturer's ambitions in Europe.
Thanks to its century-old experience and its presence in 18 European countries, CA Auto Bank will offer all its flexible and innovative financing solutions (also including traditional credit, leasing, stock financing, etc.) while adapting to the specificities of each market, with a single management tool for all countries.
The GAC group is now present in more than 40 countries worldwide with the aim of expanding into Europe by 2025.
An agreement that strengthens the relationship between the bank and the car manufacturer
This pan-European partnership consolidates the strong relationship already established in China between CA Personal Finance & Mobility and GAC since 2009 with the creation of GAC-Sofinco, a joint venture owned equally and more recently with the project of acquisition by CA Personal Finance & Mobility of 50% of the shares of GAC Finance Leasing Co. Ltd, a subsidiary of the manufacturer which offers leasing solutions to the dealers network in China.
« By facilitating access to electric vehicles and supporting a manufacturer such as GAC in its arrival in Europe, we are contributing to the transition of the European vehicle fleet and to Crédit Agricole Personal Finance & Mobility's strong ambition to become the European leader in electric mobility. With CA Auto Bank, we are proud to support our long-standing partner in China and to support its development project in Europe. »
STEPHANE PRIAMI, CEO of Crédit Agricole Personal Finance & Mobility
Crédit Agricole Personal Finance & Mobility is a leader in personal financing and a provider of access to all mobility solutions in Europe. It distributes directly, at the point of sale or on its partners' e-commerce platforms, a wide range of financing solutions - amortizable credit, revolving credit, leasing and credit buyback - with associated services including insurance, split payment solutions and services dedicated to mobility, with the aim of meeting the challenges of energy transition in mobility, housing and consumption. Its financing solutions and services are offered in France via Sofinco, in Italy via Agos, in Germany via Creditplus, in Portugal via Credibom, in Spain via Sofinco Espana, in Morocco via Wafasalaf, and in China via GAC-Sofinco (automotive financing only). Crédit Agricole Personal Finance & Mobility aims to be the leader in electric mobility in Europe and offers a mobility continuum in the 22 countries where it is present (leasing, medium and short-term rental, subscription, car sharing, installation of charging stations, etc.). The company relies on Leasys, a joint venture equally owned by Stellantis, CA Auto Bank and Drivalia, the pan-European leader in automotive financing, rental and mobility, Crédit Agricole Mobility Services, a comprehensive service offering dedicated to mobility and the development of automotive financing in its universal subsidiaries in Europe and in Crédit Agricole's regional banks and at LCL via Agilauto. CA Personal Finance & Mobility acts every day in the interest of its 17.2 million customers and society. As of December 31, 2023, CA Personal Finance & Mobility managed €113 billion in outstanding credit.
More information: www.ca-personalfinancemobility.com
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