By Brazil Stock Guide – Localiza&Co (B3: RENT3) signed a strategic agreement with China’s BYD to purchase 10,000 hybrid and fully electric vehicles over the next two years, accelerating fleet electrification at Latin America’s largest car rental company and deepening BYD’s foothold in Brazil’s fast-growing EV market.
The deal follows more than a year of joint testing of BYD models within Localiza’s operations, assessing performance, reliability and efficiency. Under the agreement, Localiza will offer BYD’s full portfolio — including the Song Plus, Song Pro, Dolphin and Dolphin Mini — across daily and monthly rentals, car subscription plans, corporate fleet management and its used-car division, Localiza Seminovos.
For Localiza, which operates a fleet of more than 630,000 vehicles, the move signals a strategic shift toward electrified mobility as competition intensifies and consumer demand evolves. Electric vehicles typically offer lower maintenance costs and growing appeal among corporate clients focused on ESG targets, though they require higher upfront investment and careful residual value management. By distributing the vehicles across multiple business lines — rental, subscription and resale — the company aims to optimize lifecycle returns and reduce depreciation risk.
Chief Executive Bruno Lasansky said the partnership strengthens Localiza’s effort to build a modern mobility ecosystem with a digital, customer-centric experience. Tyler Li, President of BYD Brazil, described the agreement as a strategic step to democratize access to clean technology and reinforce the automaker’s leadership in the country.