ARVAL JIUTONG, JOINT VENTURE OF ARVAL AND SHANGHAI BASHI CAR RENTAL SERVICE, LAUNCHES ITS FULL-SERVICE CAR LEASING BUSINESS IN CHINA

Arval Jiutong, the joint venture of Arval, a company specialised in full-service vehicle leasing and a BNP Paribas 100% subsidiary, and Shanghai Bashi Car Rental Service, held an opening ceremony in Shanghai on 22 October 2015 to officially kick off its full-service long term car leasing business in China.

Arval Jiutong will start with a fleet of more than 4000 vehicles, 160 experienced talents and a strong network covering 53 cities. Equipped with the advanced fleet management system, Arval Jiutong will provide high-quality full-service vehicle leasing solutions to local and international enterprises in China. In addition, Arval Jiutong will offer its expert advice and superior service quality to clients through its wide network across China.

At the opening ceremony, Valerie Merien, General Manager of Arval Jiutong, said: “We are thrilled to have you by our side, to witness together the birth of this great enterprise. As a joint venture between Arval and Shanghai Bashi Car Rental, Arval Jiutong will capitalise on the expertise and competitive advantages of both entities. We have good knowledge of local markets, advanced fleet management process and tools, global networks and worldwide best practices sharing, with the innovative spirit and a great team already on board. We are set for the success.”

The idea of the joint venture (JV) was born by the mutual appreciation of complementary competences and the desire to become a reference in full-service car leasing in China. “We signed an initial framework agreement in 2014 with Shanghai Bashi,” said Philippe Noubel, Arval Deputy CEO. “Now, we are very enthusiastic to celebrate its official launch, and we would like to thank the Municipality of Shanghai for all the support we have experienced in setting up our JV.”

Paul Yang, Head of Greater China, BNP Paribas, commented: “In addition to our strong banking platform of BNP Paribas headquartered in Shanghai, our group have built over years several solid strategic partnerships with strong local leading institutions. We are very supportive of this new venture with our Shanghai partner and we are highly confident that Arval Jiutong will be very quickly identified as one of the best mobility solution providers in China.”

Zhongqiu Li, Deputy President of Shanghai Jiushi (Group), also expressed his confidence: “We are celebrating together, fully driven by mutual respect, trust and a shared conviction that the market is ready for optimised and pragmatic fleet management solutions in China. Shanghai Jiushi (Group) Co., Ltd, as the biggest public transport services provider in China, always dedicates itself to satisfy people’s mobility needs, through its fleets of bus and taxi. We are more than happy to see that Arval Jiutong will bring the world-class full-service car leasing solutions to the enterprises in China. This is definitely complementary to our public service business and will provide more value to our clients in the market. We are confident that Arval Jiutong will become a leader in the full-service car leasing industry in the near future.” Shanghai Jiushi (Group) Co., Ltd is a key stakeholder of Shanghai Qiangsheng Holding Co., Ltd, which 100% owns Shanghai Bashi Car Rental.

The Arval Jiutong opening ceremony was well attended by more than 150 guests, including Shanghai government officials, executive members from stakeholder companies of the joint venture, as well as clients and industry associations.