top of page
  • tech360.tv

Electric Vehicles: Chery Automobile Expands into UK Car Rental Market with Omoda EVs Leased by Octopus

Chery Automobile partners with Octopus Electric Vehicles to lease out Omoda EVs in the UK car rental market. Octopus Electric Vehicles offers low-cost charging and charger installation services for Omoda cars. Chery joins other Chinese automakers in pursuing growth in European markets.

Chinese automaker Chery Automobile is making its move into the European electric vehicle (EV) market through a partnership between its Omoda brand and UK car rental company Octopus Electric Vehicles. Under the agreement, Octopus will lease out Omoda's battery-powered cars and provide low-cost charging and charger installation services.


While the exact number of Omoda cars to be included in the leasing business was not disclosed, this collaboration marks Chery's entry into the UK market and its efforts to tap into the growing demand for EVs in Europe. Chery has been actively pursuing growth in European markets, joining other Chinese automakers such as BYD, Zeekr, SAIC, and Nio.


Octopus Electric Vehicles has been making significant strides in the EV rental sector, having recently signed a preliminary agreement with BYD to purchase 5,000 cars over the next three years. The partnership with Chery further strengthens Octopus' position in the market and allows Chinese EV makers to build their brands abroad.


Victor Zhang, Omoda UK's executive vice-president, expressed the company's commitment to earning the trust of British car buyers. He emphasised the importance of partnering with industry-leading companies like Octopus to provide the best experience for EV customers.


In addition to the UK, Chery has already introduced its Omoda 5 sport-utility vehicle (SUV) in Spain and plans to offer it in Britain later this year. The Omoda 5 is currently available in mainland China only as a petrol version, with an electric model known as the Omoda E5 priced at a higher rate in Malaysia.


Octopus Electric Vehicles stands out in the market with its advanced technology platform, Kraken, which allows for automatic charging schedules to help owners save on electricity bills. Users of Omoda cars can potentially save up to £500 (US$622) per year through this platform.


As the European Commission investigates foreign state subsidies, Chinese-made EVs may face higher tariffs. Similarly, the Biden administration in the United States is considering restrictions on imports of Chinese electric cars due to concerns about data privacy. However, analysts believe that these potential obstacles will not hinder Chinese automakers from pursuing their global ambitions.


Chery's sales have been on the rise, with 1.88 million cars sold in 2023, including a significant increase in deliveries to international markets. Jetour, another brand under Chery focusing on EVs, expects overseas sales to account for half of its total deliveries starting from 2027.

 
  • Chery Automobile partners with Octopus Electric Vehicles to lease out Omoda EVs in the UK car rental market.

  • Octopus Electric Vehicles offers low-cost charging and charger installation services for Omoda cars.

  • Chery joins other Chinese automakers in pursuing growth in European markets.


Source: SCMP

As technology advances and has a greater impact on our lives than ever before, being informed is the only way to keep up.  Through our product reviews and news articles, we want to be able to aid our readers in doing so. All of our reviews are carefully written, offer unique insights and critiques, and provide trustworthy recommendations. Our news stories are sourced from trustworthy sources, fact-checked by our team, and presented with the help of AI to make them easier to comprehend for our readers. If you notice any errors in our product reviews or news stories, please email us at editorial@tech360.tv.  Your input will be important in ensuring that our articles are accurate for all of our readers.

bottom of page