WHAT happens when two of the world’s top brands come together and create a magic- collision perhaps…?
A good collision of course, in the form of BYD that has signed a deal with Absa bank to create what is calledBYD Finance, a product of Absa, a strategic cooperation that builds on the relationship first established in 2025.
On Thursday afternoon, the Sandton Summer Place was the host venue were discussions on mobility and finance took center stage.
Addressing a packed room, BYD Auto SA managing director Steve Chan, indicated that the partnership with a leading Pan African bank- Absa has, and will bear fruits for South African’s and the Continent.
“For BYD, this is about more than bringing world-leading vehicles to market. It is about building the ecosystem that helps more South Africans access them.
Extending our cooperation with Absa allows us to support customers, dealers and businesses with the finance solutions needed to make new energy mobility more accessible and scalable.”
As one of the world’s largest manufacturers of new energy vehicles, BYD brings global technology leadership, advanced battery expertise, product innovation and manufacturing capability to the local market.
The extended cooperation with Absa strengthens the ownership ecosystem around the brand by supporting access to vehicle finance, dealer finance, insurance solutions and other value-added services.
Kenny Fihla- Absa Group CEO says this partnership will yield great outputs.
“Africa and China relationship has been existing for more than 16 years’ worth billions of investments; and for us as Absa to strategically position ourselves at the economic hub of Beijing was a move that continues to excel and has become productive.”
On the deal, Fihla pointed-out that consumers are now investing in new technology and as Absa they have tailor-made packages from finance to insurance to ‘put a smile on the customer faces’ as eco-system.
“We’re connecting African markets to the world as a Pan African brand through this commercial deal,” remarked Fihla.
Between January and May 2026, Absa data shows new energy vehicle sales increased by 78.8% compared with the same period last year, driven by strong growth in both plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), where volumes rose by 681% and 193% respectively.
Over the same period, BYD ranked as the country’s second best-selling new energy vehicle brand, with 2,011 units sold year to date.
Posed to Nomonde Kweyi- BYD marketing director, on the issue of safety of the car and battery, she put everyone on ease referencing that various tests and research were conducted on the safety and battery of the cars.
“Market demands reliability, best technology- and safety. Therefore, our vehicles will be maintained for long as opposed to traditional cars ‘moving piece of technology’,” she boasted.
Just like AI- that took everyone by a surprise, the future of plug-in-hybrid is growing- and thanks to the (State Of the Charge-SOC) battery that is technologically driven, that will help the battery not to explode.
On the relationship with Absa, Kweyi said this goes way back and it’s a commercial transaction with huge returns for their customers.
“Norway is selling more EV cars in the world, and SA is following in those steps and thanks to the buy-in from Eskom and Naamsa who are affording us a chance to present our case studies and infrastructure development in this country,” noted Kweyi, who also indicated they’re working on a new project- Flash Charging that will help charge within a space of 10 minutes to be launched next year.
On value added services, Absa will continue providing vehicle finance and broader banking solutions to support BYD’s dealer network and customers in South Africa, including wholesale finance for dealerships, vehicle finance for customers, insurance solutions and other services.
BYD currently supports a network of 52 dealerships nationwide, targeting 80 dealerships by the end of the year as it expands its dealer network in South Africa.
It also creates scope for Absa to support BYD’s growth ambitions beyond South Africa by exploring financial solutions and business relationships in markets where BYD is already present, as well as countries where it may seek to establish a presence, with the likes of Namibia and Botswana targeted.
This aligns with Absa’s Pan-African ambition and the strength of its regional platform, with the bank represented in 14 countries across the continent, including banking licences in 11 markets and representative offices in three.
Amasi Mawela from popular Cars.co.za remarked education on EV and Hybrid must be amplified since the country still lacks behind, following a trust deficit in relation to electricity loadshedding, etc.
As part of the deal, BYD presented 10 vehicles to Absa Student Programme and 13 to Absa staff.
Image supplied (BYD Auto SA managing director Steve Chan, Kenny Fihla- Absa Group CEO, Nomonde Kweyi- BYD Auto SA marketing director, Charl Potgieter, Managing Executive for Absa Vehicle and Asset Finance and other representatives recorded cutting a ribbon at the deal announcement at Summer Place- Sandton on Thursday afternoon.)
