Santander Consumer has formed a new multi-year agreement with Lotus. As part of this new partnership, Santander Consumer will provide new customers in the US with financing programmes. This comes as Lotus will deliver a new range of electric cars, with the first release expected in Q3 2024. Santander Consumer is the financial provider of choice, and will provide nationwide loan and lease options to Lotus customers.
Santander is showing its ability to partner with businesses of all sizes around the globe. This announcement takes place a few weeks after showing its commitment to a variety of start-ups across Spain.
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North America is a key market for both Santander and Lotus
This partnership will build on Santander’s existing auto financing relationship with Lotus across Europe. Santander Consumer will provide nationwide loan and lease options to Lotus customers and dealers with this exclusive, multi-year agreement.
Ben Dodds, Chief Financial Officer, Lotus, said: “We are thrilled to embark on this partnership with Santander Consumer to provide financing options to customers in one of our largest markets. Providing convenient options for our customers stays true to our brand promise to be ‘For the Drivers’, and we are excited to have them along with us on this journey as we deliver our new line-up.”
Betty Jotanovic, President of Auto Relationships at Santander Consumer, commented: “Our relationship with Lotus is a testament to our commitment to partnering with prestigious automotive companies, and providing superior experience for our dealers so they can offer financing to customers across the credit spectrum and drive sales. We are thrilled to add Lotus to our portfolio of clients in the US and look forward to collaborating with their team and dealer body as they launch their new line-up in the market.”
North America is a key market for Lotus, as the business expands globally. The company had over 44 stores in its retail network as of June 30, 2023. It plans to almost double its presence with 80 stores expected to open by 2025.
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