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Stellantis, a Franco-Italian carmaker, announced a multi-billion-euro framework deal with the leasing and fleet management firm Ayvens to sell as many as 500,000 cars across Europe in the next three years.

Notably, Stellantis is the owner of Chrysler, Jeep, and Fiat brands.

Stellantis-Ayvens Partnership

Based on the agreement, which was unveiled on Monday, February 26, Stellantis indicated that the first delivery volumes are anticipated to commence in the first half of 2024. Ayvens' affiliates would purchase the vehicles for their long-term leasing fleet throughout Europe, as per a report by Reuters.

Stellantis also said that the two firms may flexibly agree on the specifics of the transaction, such as the order number, compositions, and delivery dates, based on fleet needs and demand. This includes volumes beyond what is currently scheduled for 2024.

Brands such as Alfa Romeo, DS Automobiles, Fiat, Opel, Peugeot, and Vauxhall will be provided to Ayvens' consumers, according to the announcement. The availability of these brands may be expanded in the future to include Stellantis' complete range.

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Carlos Tavares, chief executive of Stellantis, said in a statement that the deal "will aid the progressive transition of Ayven's client base to choosing more sustainable mobility options."

Ayvens CEO Tim Albertsen added: "This commercial partnership will allow us to work closely together with Stellantis to ensure more competitive pricing for our clients and perfectly illustrates our capacity to leverage our new scale and buying power to achieve better value and synergies for all of our stakeholders."

Last year, Ayvens was formed via the acquisition of LeasePlan, a firm specializing in fleet management and mobility, by ALD Automotive, a wholly-owned subsidiary of the French lender Societe Generale.