Octopus EV and BYD agree landmark deal as manufacturer launches in the UK

• Octopus Electric Vehicles and BYD sign a landmark agreement as brand launches first EV model in the UK, the BYD ATTO 3
• Octopus to purchase 5,000 EVs from BYD for UK customers over the next 3 years
• Octopus to offer BYD EVs as part of its full package salary sacrifice offering

London, Monday 13th March 2023 - Octopus Electric Vehicles, the EV specialist business from the Octopus Energy Group, has agreed a landmark deal with the world’s leading manufacturer of EVs, 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 their 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, commented: “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. Customers have an amazing range of models to choose from, all of which are at the cutting edge of tech and are fun to drive. 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.”

Michael Shu, General Manager and Managing Director, BYD Europe and International Cooperation Division, said: “We are delighted to enter this cooperation with Octopus EV. This is an exciting new chapter for BYD as we bring our latest products and leading technologies to customers in the UK, as shown in our innovative range of electric passenger cars, starting with the BYD ATTO 3. BYD staunchly believes in partnerships with like minded organisations, and our shared commitment to eMobility and sustainable innovation for a greener future, endorses our mutual aims.”

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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Press Contact

Sam Salehi

sam.salehi@octoenergy.com

0204 5308 369

Octopus Electric Vehicles:

Octopus Electric Vehicles, part of the Octopus Energy Group, was launched in 2018 to make it easy for drivers to make that switch to clean, electric transport. With over 85 electric cars now available from 28 different brands, Octopus Electric Vehicles’ team provides everything drivers need to take the road in a new EV.

Offering an all-in-one service, Octopus lease the cars, install charge points, provide specialist EV energy tariffs, and offer access to over 380,000 public charge points across Europe via Octopus Electroverse All with a 5* rating on Trustpilot.

Octopus Electric Vehicles also specialises in salary sacrifice schemes - an employee benefit that makes driving a brand new electric car cheaper than the petrol or diesel equivalent through tax savings. Placing customer experience first, Octopus Electric Vehicles has designed the scheme to be simple for an employer to set up and run, and support them at every step. Drivers typically save between 30-40% every month on the cost of their EV; and at zero-cost for an employer to set up, it’s great for their team, their hiring and retention, and for their sustainability goals.

More information can be found at www.octopusev.com

About BYD

BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.

About BYD Auto

Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, electronic controllers, and automotive-grade semiconductors. It has witnessed in recent years significant technological advancements, including the Blade Battery, the DM-i and DM-p hybrid technology, the e-Platform 3.0, and the CTB technology. The company is the world’s first carmaker to stop the production of fossil-fueled vehicles on EV shift and has remained top of new energy passenger vehicle sales in China for 9 years in a row.

About BYD Europe

BYD Europe is headquartered in the Netherlands and is the first overseas branch of BYD Group, with a commitment to deliver safe and efficient sustainable solutions in new energy vehicles through world-leading technological innovations.