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Octopus EV and BYD agree landmark deal

OCTOPUS Electric Vehicles, the EV specialist business from the Octopus Energy Group, has agreed a deal with Chinese carmaker BYD, as it expands into the UK.

The agreement will see Octopus EV purchase 5,000 new EVs from BYD for UK customers over the next three years – the largest deal of its kind for the EV disruptor to date. The companies will monitor uptake, and have the potential to go beyond this figure.

BYD has named Octopus EV as its preferred salary sacrifice provider, with their full package offering saving drivers 30% or more off the upfront cost of the car – the cheapest way to lease BYD’s EVs.

The initial order will include the BYD ATTO 3, an all-electric SUV, making its debut in the UK in March. The versatile BYD ATTO 3, combining modern aesthetics with an abundance of innovative intelligent technology, is anticipated to have wide appeal for both business and personal customers. The car boasts an impressive 260 mile range and accelerating power to match – reaching 0-62mph in just over 7 seconds.

The ATTO 3 is the latest EV model to be offered by Octopus EV, which now has over 85 cars available to customers – covering every model available in the UK. Its convenient all-in-one salary sacrifice service provides everything drivers need to take the road, including the car, charge point installation and specialist EV energy tariffs. As part of the partnership, Octopus EV will become BYD’s recommended salary sacrifice partner for their business partners in the UK.

Oliver Boots, Chief Commercial Officer at Octopus Electric Vehicles, said: “When Octopus Electric Vehicles launched, there were only a handful of EVs on the market – we’re now at more than 85 and the figure is rising all the time.

“Being able to partner with BYD as they launch in the UK is a real milestone. They’re a global leader and we’re looking forward to being able to offer our 5* Trustpilot service to customers – accelerating our growth and moving us another step closer to zero emission transport in the UK.”

Octopus Electric Vehicles was launched with a simple mission; to make it easy for drivers to switch to clean, electric transport. The business sits within the wider Octopus Energy Group, which is expanding rapidly having received $900m in funding over the last two years, giving it a valuation of $5bn.

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