CA Auto Bank takes center stage in a new financial partnership between GAC Motor International and CA Personal Finance & Mobility
- Guangzhou Automobile Corporation (GAC), one of China’s largest manufacturers, has chosen CA Personal Finance & Mobility and its subsidiary CA Auto Bank as its financing partner to support the European launch of its 100% electric vehicle range, starting in January 2025, through its subsidiary GAC International.
- With a strong presence in 18 European countries, CA Auto Bank will provide tailored and flexible financing solutions.
- This partnership is a key element of the Group’s strategy to become a leader in electric mobility in Europe by 2025.
Turin, October 15, 2024
Crédit Agricole Auto Bank, the mobility bank subsidiary of CA Personal Finance & Mobility, is at the heart of a new strategic partnership with GAC International, the European arm of Guangzhou Automobile Corporation (GAC), one of China’s largest manufacturers. Under this agreement, CA Auto Bank will provide dedicated financing solutions for the full range of electric vehicles by GAC, a company that has a presence in 40 countries and is set to enter the European market starting in January 2025.
With its 100 years of experience and operations in 18 European countries, CA Auto Bank will support GAC in developing its European distribution network. The Bank will offer flexible and innovative financing services—including traditional credit, leasing, and stock financing—tailored to the needs of each market. This will be achieved through a unified platform, ensuring both operational efficiency and ease of management.
This agreement aligns with CA Personal Finance & Mobility’s broader strategy to become the leading force in electric mobility in Europe by 2025. The collaboration provides GAC with access to the flexible financial solutions offered by CA Auto Bank, facilitating its expansion into the European market.
The partnership also strengthens the longstanding relationship between CA Personal Finance & Mobility and GAC, which began in 2009 with the GAC-Sofinco joint venture in China and was further solidified by the acquisition of a 50% stake in GAC Finance Leasing Co. Ltd.
“By supporting GAC’s entry into Europe, we are contributing to the transformation of the European vehicle fleet and advancing CA Personal Finance & Mobility’s ambitious goal of becoming the European leader in electric mobility,” said Stéphane Priami, CEO of CA Personal Finance & Mobility. “With CA Auto Bank, we are proud to continue supporting our longstanding partner in China and help drive its development strategy.”
“We are thrilled to support GAC International in this strategic pan-European expansion,” added Giacomo Carelli, CEO of CA Auto Bank. “With CA Auto Bank, we bring our expertise to facilitate the entry of a major player like GAC into the European electric mobility market. This partnership underscores our commitment to a more sustainable future by contributing to the transition to zero-emission vehicles and promoting the growth of electric mobility across Europe”.
This new, Europe-wide agreement illustrates how the joint efforts of CA Auto Bank and GAC can drive innovation and foster sustainable development.
CA Auto Bank S.p.A.
CA Auto Bank is a universal bank, wholly owned by Crédit Agricole Personal Finance & Mobility, which operates as an independent and multi-brand player in the vehicle financing and leasing and in the mobility sector. CA Auto Bank provides a complete range of credit and rental solutions and insurance services. Loan, lease and rental and mobility financing products provided by CA Auto Bank are specifically designed for the sale networks, for private customers and corporate fleets. CA Auto Bank has a presence in 18 European countries (Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Norway, Netherlands, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom) and in Morocco, directly or through branches, with a total of over 2,600 employees.
For more information:
Share on
