Arval and Shanghai Ba-shi Car Rental Service to set up a joint-venture in China
19.06.2014 | Group, Press release
On June 19 2014, Arval, a subsidiary of BNP Paribas and an expert in the full-service leasing of multi-brand vehicles to companies, closed a deal with Shanghai Ba-shi Car Rental Service Co. LTD., a subsidiary of Qiangshen, leader in full-service leasing in Shanghai and the 4th largest player in China, to set up a joint-venture.
Two years after opening in China, Arval is now speeding up its growth with the support of one of the Chinese leaders in full-service leasing: Shanghai Ba-shi Car Rental. Shanghai Ba-shi Car Rental is 100% owned by Shanghai Qiangsheng Holding Co Ltd, of which the core business is public transport in Shanghai, with Shanghai Jiushi Corporation and ultimately the Shanghai municipality as its majority shareholder. Shanghai Ba-shi Car Rental is the biggest full service leasing company in Shanghai, and has a very good knowledge of its market, with a fleet of 5,000 vehicles leased to companies of all sizes.
Arval is a major player in full service leasing, multi-brand vehicles for companies, with a leased fleet of 700,000 vehicles. With a direct presence in 25 countries and more than 4,500 staff members, Arval targets clients of all sizes – be they professionals, SMEs and large international corporates – willing to outsource the financing and the management of their cars, of any brand and for any period of time. Driven by customers’ satisfaction in a changing world, Arval, thanks to its organization and expert advice, constantly and promptly delivers best solutions and services to its clients, its drivers and to their vehicles.
Arval and Ba-shi Car Rental are two reliable players which enjoy a solid reputation in their respective markets. This agreement is the first step towards a joint-venture that will enable Shanghai Ba-shi Car Rental to rely on the expertise and know-how of Arval and will reinforce Arval’s market penetration in China.
Arval’s International Business Office (a structure that is dedicated to large international groups looking for comprehensive solutions to set up and manage their international fleets) will also undeniably benefit from the creation of this joint-venture to take charge of the fleets of its customers who are already present in China, and also to large companies looking for a trustable and experienced international partner for their fleets.
“By associating Arval with Shanghai Ba-shi Car Rental, we want to ally the strengths of the two companies to create an enterprise that will become the leader in full-service leasing in China. We are delighted about these first steps towards a joint-venture,” Philippe Bismut, CEO of Arval says.
“We chose Arval because of their knowledge and expertise in full-service leasing as well as their culture of quality. We are glad about this joint enterprise that opens up strong growth prospects,” Dong Liang, General Manager of Ba-shi remarks.
Huimin Zhang, General Manager of Jiushi says: “Ba-shi and Arval have common points of view on the market, strategy, operation, even target clients. Meanwhile they have complementary abilities. But the most important factor is the consistent respect and trust from both parties. I believe this is the most reliable insurance of a bright future for both parties.”
Eric Raynaud, Chief Executive Officer of BNP Paribas Asia Pacific highlighted: “This partnership is another key milestone of the Group’s development plan in Asia Pacific and in China in particular following our announcements last year to grow our business in insurance and in auto financing. China represents a key market for us where we already provide clients with services in corporate and investment banking and wealth management activities through our 100% subsidiary BNP Paribas China Ltd. We have also been enjoying since 2005, a successful partnership with Bank of Nanjing in retail and commercial banking, and with Haitong Securities since 2003 through HFT Investment Management in asset management.”
Founded in 1989 and fully owned by BNP Paribas, Arval specialises in full service vehicle leasing. Arval offers its customers – professionals, SMEs and large international corporates – tailored solutions that optimise their employee’s mobility and outsource the risks associated with fleet management. Expert advice and service quality, which are the foundations of Arval’s customer promise, are delivered in 25 countries by over 4,000 employees, and in 14 other countries through a network of partners. Arval’s total leased fleet adds up to nearly 700,000 vehicles throughout the world (December 2013). Within BNP Paribas, Arval belongs to the Retail Banking core activity.
About BNP Paribas
BNP Paribas has a presence in nearly 75 countries with 180,000 employees, including 140,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
Founded in 2004, now fully owned by Qiangsheng Holding, Ba-shi is the biggest car rental company which focuses on business clients. Ba-shi is managing more than 5000 vehicles. This company services vehicles for a lot of business companies and all kinds of conferences and exhibitions. Ba-shi knows what Chinese customers want indeed, and provides full service car leasing with big, middle and small vehicles. Ba-shi operates strict cost managements to save the clients budget against all kinds of waste. Ba-shi keeps every promise with the clients, the reliable services gain good reputation from the clients.