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Smartgroup Partners With BYD to Boost Electric Vehicle Access in Australia

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Smartgroup (ASX:SIQ) struck a partnership with China's BYD to boost access to electric vehicles (EV) for Australians, according to a July 24 statement.

The partnership provides customers access to specific tax savings for EVs through the Australian government's electric car discount as domestic EV adoption continues to gain traction, Smartgroup said.

BYD posted year-to-date Australian sales through June of 52,335 vehicles, and the collaboration will give its customers point-of-sale access to salary packaging support in addition to potential tax advantages through novated leases.

Smartgroup shares gained over 1% in recent Monday trade.

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