Updated February 26th, 2024 at 12:53 IST

Stellantis teams up with Ayvens for European vehicle sales push

Ayvens secures multi-billion euro deal with Stellantis, set to purchase 500,000 vehicles for leasing fleet starting in early 2024.

Reported by: Business Desk
Representative | Image:Pixabay

Stellantis-Ayvens Partnership: Stellantis, the automotive conglomerate formed from the merger of Fiat Chrysler and Peugeot Citroën, has entered an agreement with Ayvens, a player in leasing and fleet management, with the aim of selling a substantial number of vehicles across Europe over the next three years. This deal, valued in the billions of euros, entails Ayvens purchasing up to 500,000 vehicles from Stellantis for its leasing fleet, with deliveries slated to commence in the first half of 2024.

The partnership between Stellantis and Ayvens offers a degree of flexibility, allowing for adjustments to be made to various aspects of the agreement, including order quantities, vehicle compositions, and delivery schedules. This flexibility is designed to accommodate fluctuations in market demand and meet the specific requirements of Ayvens' leasing fleet. Additionally, Ayvens' customers will gain access to a diverse range of Stellantis brands, including Alfa Romeo, DS Automobiles, Fiat, Opel, Peugeot, and Vauxhall. There's also the potential for the agreement to expand in the future to encompass Stellantis' entire portfolio of brands.

Carlos Tavares, CEO, Stellantis, highlighted the importance of this collaboration, stressing its role in facilitating Ayvens' transition towards more sustainable mobility solutions. Ayvens, a product of ALD Automotive's acquisition of LeasePlan last year, stands to benefit substantially from its strategic partnership with Stellantis, which promises to enhance its offerings in the leasing and fleet management sector across Europe.

(With Reuters Inputs)

Published February 26th, 2024 at 12:53 IST