Jaguar Land Rover and BNP Paribas announce an exclusive strategic partnership in mobility financing in Europe
04.02.2022 | Financial Information, Press release
Jaguar Land Rover and BNP Paribas have become exclusive partners for the financial services to all Jaguar Land Rover retailers and customers. The partnership aims to broaden and enhance competitive automotive financing solutions with new, innovative services across nine European markets.
By early 2023, the ambition is to provide to the retail partner network and Jaguar Land Rover customers a full range of financing solutions. These solutions, aligned to both partners’ mobility strategy include stock financing, classic loans, lease-to-purchase, long-term lease and insurance products.
The collaboration will build on Jaguar Land Rover’s leadership in the modern luxury automotive market with BNP Paribas Personal Finance for financing, Arval for leasing and fleet management, BNP Paribas Cardif for insurance, to provide a truly integrated service offering covering all types of mobility financing needs.
Francois Dossa, Executive Director, Strategy and Sustainability, Jaguar Land Rover said: “We are proud to be joining forces with BNP Paribas to create the conditions for further growth and to write another chapter in the company's history. This partnership enables us to offer competitive mobility financing solutions across key European markets to create unique and customer centric experiences as we continue to accelerate our Reimagine corporate strategy.”
Thierry Laborde, Chief Operating Officer of BNP Paribas added: "We are delighted to begin a strategic partnership with an iconic player in the automotive sector, placing sustainability at the heart of the business thanks to an ambitious strategy for the electrification of its vehicles. Our complementary areas of expertise are a key asset for making this partnership a success. BNP Paribas is fully committed to bringing all our capabilities as an integrated group, to bear in support of Jaguar Land Rover’s distributors and customers across these 9 strategic markets.”
About Jaguar Land Rover: Reimagining the future of modern luxury by design
Jaguar Land Rover is reimagining the future of modern luxury by design through its two distinct, British brands.
Our current model range embraces fully electric, plug-in hybrid and mild-hybrid vehicles, as well as the latest diesel and petrol engines. Our class-leading Jaguars and Land Rovers are in demand around the world and in Fiscal 2020/21 we sold 439,588 vehicles in 127 countries. Land Rover is the global leader of luxury SUVs through its three families of Range Rover, Discovery and Defender. Jaguar is the first ever brand to offer a premium all-electric performance SUV, the Jaguar I-PACE.
At heart we are a British company, with two major design and engineering sites, three vehicle manufacturing facilities, an Engine Manufacturing Centre and a Battery Assembly Centre in the UK. We also have vehicle plants in China, Brazil, India, Austria and Slovakia. Three of our seven technology hubs are in the UK – Manchester, Warwick (NAIC) and London – with additional sites in Shannon, Ireland, Portland, USA, Budapest, Hungary and Shanghai, China.
Central to our Reimagine strategy is the electrification of both the Land Rover and Jaguar brands with two clear, distinct personalities. All Jaguar and Land Rover nameplates will be available in pure electric form by the end of the decade. This marks the start of the company’s journey to become a net zero carbon business across its supply chain, products and operations by 2039.
As a wholly owned subsidiary of Tata Motors since 2008, Jaguar Land Rover has unrivalled access to leading global players in technology and sustainability within the wider Tata Group.
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About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialised businesses including BNP Paribas Personal Finance and Arval ; Investment & Protection Services for savings, investment and protection solutions ; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.