Splend has entered into a Memorandum of Understanding (MoU) with Nexport to order 3,000 electric vehicles (EVs) manufactured by Chinese automobile company BYD.
Splend is a tech-enabled vehicle subscription provider founded by Chris King in 2015. It offers flexible vehicle subscription and ownership plans in Australia and the United Kingdom with a focus on the on-demand rideshare and delivery app segments. The company is looking to accelerate its expansion.
Nexport entered into an exclusive distribution arrangement with BYD in February 2021 for the supply of electric vehicles in Australia and other right-hand drive markets.
BYD has become a key global OEM having sold more than 180,000 pure-electric passenger vehicles last year. Warren Buffet’s Berkshire Hathaway has been a major shareholder since 2008 and owns 8.2% of BYD, which is listed on the Shanghai and Hong Kong stock exchanges.
Nexport intends releasing the new range of BYD electric passenger and commercial vehicles from mid-2021 with prices starting from AUD $35,000. The new models expected in Australia had been showcased at the Shanghai Motor Show.
The MoU between Splend and Nexport plans for delivery of vehicles to Splend’s Australian and UK operations over the next two years starting in early 2022.
As part of Nexport’s direct-to-customer sales model for EVs, Splend will also be engaged by Nexport to provide a new and innovative form of demonstrator vehicle service for new BYD car buyers. The agreement between Nexport and Splend is Australia’s largest singular electric vehicle order to date.