Lloyds Banking Group has teamed up with International Motors Limited (IML) to offer finance and leasing products for electric vehicles from incoming brand Xpeng.

This slideshow requires JavaScript.

The deal marks Xpeng’s first steps into the UK market as part of its strategy to expand its global and European presence and provide “ultra-smart, sustainable mobility solutions” across the globe.

The Chinese electric car firm has officially launched in the UK on the back of a distribution deal with IML, which already works with Isuzu, Subaru and GWM.

And its fully electric cars will be available through International Motors Finance, a joint venture business between IML and Black Horse, Lloyds Banking Group’s motor finance business. It will offer hire purchase (HP) or personal contract purchase (PCP) products, providing greater payment choice and flexibility for UK customers.

Xpeng’s first model, the G6 SUV-coupé, is already open for orders, priced from £39,990 and with a range of up to 354 miles.

Nick Williams, managing director for transport at Lloyds Banking Group, said: “The UK is leading the way in electrifying and decarbonising transport, which is helping to attract new manufacturers, such as Xpeng. The launch of the G6 model is a great example how the electric car market has evolved to offer cars that deliver great battery performance – with both range and charge time – cutting edge technology and a fantastic driving experience at an affordable price point.

“As one of the largest finance providers for electric vehicles in the UK, our partnership with IML means that we are able to put even more people in the driver’s seat through flexible and affordable finance, supercharging the electric vehicle market with more choice and increased competition.”

William Brown, managing director at International Motors Limited, said: “We are pleased to expand our partnership with Lloyds Banking Group and incorporate the exciting and innovative new Xpeng brand.

“This support provides our future customers with secure and responsible motoring finance options from established partners, providing additional peace of mind for consumers when considering a new vehicle brand.”