Updated February 26th, 2024 at 12:12 IST

Stellantis, Ayvens ink multi-billion Euro agreement sell 500,000 vehicles across Europe

Customers under Ayvens' purview will gain access to an array of Stellantis brands, including Alfa Romeo, DS Automobiles, Fiat, Opel, Peugeot, and Vauxhall.

Reported by: Business Desk
Stellantis Ayvens agreement | Image:Stellantis
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Stellantis-Ayvens agreement: Franco-Italian automotive giant Stellantis, the company behind brands like Chrysler, Jeep, and Fiat, announced on Monday, February 26, a substantial agreement with leasing and fleet management company Ayvens. The deal, valued in the multi-billion euro range, entails the sale of up to 500,000 vehicles across Europe over the next three years.

According to Stellantis, Ayvens' affiliates will procure the vehicles for integration into its long-term leasing fleet spanning European territories. Initial deliveries are anticipated to commence in the first half of 2024, signalling a significant boost in Stellantis' sales volume.

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The agreement underscores a flexible framework, allowing both parties to tailor specifics such as order quantity, composition, and delivery schedules beyond the volumes slated for 2024. This adaptability aligns with fleet requirements and market demand, ensuring an agile response to evolving dynamics.

Customers under Ayvens' purview will gain access to an array of Stellantis brands, including Alfa Romeo, DS Automobiles, Fiat, Opel, Peugeot, and Vauxhall. Moreover, the partnership opens avenues for potential expansion, with the prospect of incorporating Stellantis' entire portfolio into Ayvens' offerings in the future.

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Carlos Tavares, Chief Executive Officer of Stellantis, emphasised the agreement's role in facilitating a gradual shift towards more sustainable mobility solutions. "This collaboration will support Ayven's clients in embracing a more environmentally conscious approach to mobility," Tavares said.

Ayvens emerged following ALD Automotive's acquisition of fleet management and mobility firm LeasePlan last year, consolidating its position in the competitive leasing market. The strategic partnership with Stellantis marks a significant milestone in Ayvens' expansion strategy, leveraging Stellantis' diverse brand portfolio to cater to evolving customer preferences.

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(With Reuters inputs.)

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Published February 26th, 2024 at 12:12 IST