Chinese electric car giant BYD expands into the UK with Octopus Energy

Octopus Electric Vehicles has agreed a massive deal with the world’s leading manufacturer of electric vehicles, BYD, as it expands into the UK. The agreement will see Octopus EV purchase 5,000 new EVs from BYD for UK customers over the next three years.

The initial order will include the BYD ATTO 3, an all-electric SUV, making its debut in the United Kingdom in March. 

Praised for its versatility, the BYD ATTO 3 combines modern aesthetics with an abundance of innovative intelligent technology.

It is anticipated that the electric vehicle will have wide appeal for both business and personal customers. 

The car boasts an impressive 260-mile range and accelerating power to match – reaching 0-62mph in just over seven seconds. 

BYD has named Octopus EV as their preferred salary sacrifice provider, with their full package offering saving drivers 30 percent or more off the upfront cost of the car – the cheapest way to lease BYD’s EVs. 

This is the largest deal of its kind for Octopus EV to date, with both companies pledging to monitor the uptake of the vehicles, and have the potential to go beyond this figure.

Oliver Boots, Chief Commercial Officer at Octopus Electric Vehicles, commented on the partnership, describing it as a “real milestone”.

He continued, saying: “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. 

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“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. 

“They’re a global leader and we’re looking forward to being able to offer our five star Trustpilot service to customers – accelerating our growth and moving us another step closer to zero emission transport in the UK.”

BYD – which is an abbreviation for “Build Your Dreams” – announced in June 2022 that it had sold more than 640,000 EVs in the first half of the year – overtaking Tesla.

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The Shenzhen-based company saw a 300 percent jump in sales in the first half of 2022 compared to the previous year.

The manufacturer is backed by Warren Buffett’s Berkshire Hathaway and has proven its global dominance with sales forecasts in recent years.

In addition to vehicles, BYD has overtaken South Korea’s LG to become the world’s second-biggest producer of EV batteries.

Michael Shu, General Manager and Managing Director, BYD Europe and International Cooperation Division, said he was delighted with the agreement.

He added: “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. 

“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.”

The salary sacrifice service provides everything drivers need to take the road, including the car, charge point installation and specialist EV energy tariffs. 

As part of the partnership, Octopus EV will become BYD’s recommended salary sacrifice partner for their business partners in the UK.  

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