GAC Motor International and Crédit Agricole Personal Finance & Mobility join forces in Europe
Guangzhou Automobile Corporation (GAC), one of the largest Chinese car manufacturers, has chosen Crédit Agricole Personal Finance & Mobility and its subsidiary Crédit Agricole Auto Bank as its financial partner to support the arrival of its 100% electric range in Europe as of January 2025 via its subsidiary GAC International. GAC International will benefit from Crédit Agricole Auto Bank’s strong geographical footprint in Europe and its wide range of customizable financing solutions. This pan-European partnership is part of Crédit Agricole 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, Crédit Agricole Personal Finance & Mobility, through its subsidiary Crédit Agricole Auto Bank, will be a European partner of the GAC group. As a pan-European leader in financing and mobility, Crédit Agricole Auto Bank will support GAC International in its arrival on the European market with a range of electrified vehicles and support the manufacturer’s ambitions in Europe.
Thanks to its experience of more than 100 years and its presence in 18 European countries, Crédit Agricole Auto Bank will offer a range of customizable financing solutions (traditional credit, LOA, LLD, inventory 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 around the world with the aim of deploying in 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 Crédit Agricole Personal Finance & Mobility and GAC since 2009 with the creation of GAC-Sofinco, a joint venture held in equal shares and more recently with the proposed acquisition by Crédit Agricole Personal Finance & Mobility of 50% of the shares of GAC Finance Leasing Co. Ltd, a subsidiary of the manufacturer that offers rental financing solutions to the distribution network in China.
By facilitating access to electric vehicles and supporting a manufacturer such as GAC for its arrival in Europe, we are contributing to the transition of the European car fleet and to Crédit Agricole Personal Finance & Mobility’s strong ambition to become the leader in electric mobility in Europe. With Auto Bank, we are proud to support our long-standing partner in China and its development project in Europe.
Press Contact
CA Personal Finance & MobilityClaire Garciapresse@ca-cf.fr+33 (0)1 87 38 11 81 / +33 (0)6 80 41 17 77