Mobilize and Select Car Leasing team up for new leasing brand

Mobilize Financial Services UK and Select Car Leasing have announced the launch of a new brand aimed at the UK fleet market.

Select Lease by Mobilize will provide multi-brand leasing contracts to corporate and SME customers, as well as private individuals.

It is said to form part of a global strategy by mobility brand Mobilize – part of Renault Group – for a fleet of one million vehicles by 2030.

Along with the new brand, the acquisition of 36.6% of Select Car Leasing by Mobilize Financial Services UK has also been announced, subject to regulatory approval, while Select Car Leasing shareholders Mark Tongue and James O’Malley have acquired a 15% stake in Mobilize Lease&Co UK Ltd.

Mobilize Financial Services UK CEO Alice Altemaire said: “In a growing UK leasing market, developing our operational lease offer has been a top priority of the Mobilize Financial Services UK team, demonstrated by our growth in recent years. We are proud to have increased our fleet size from 12,372 at the end of 2019 to 22,413 at the end of 2022.

“I am delighted by today’s announcement of our strategic partnership with Select Car Leasing, one of the UK’s leading independent leasing specialists for cars and vans.

“By launching Select Lease by Mobilize, we will broaden our leasing products and services offering, including full multi-brand car and van leasing solutions, for private and business customers alike. And given our shared commitment to electric vehicle solutions, you can expect Select Lease by Mobilize to deliver for the environment, too.”

Select Car Leasing joint CEO and founder Mark Tongue said: “As the UK’s largest and most trusted car and van leasing broker, we are delighted to formally announce this strategic partnership with Mobilize Financial Services UK. 

“We are excited at the opportunity this brings to accelerate our growth in 2023 and beyond and deliver best in class mobility solutions to consumers and businesses across the UK, with a particular focus on electric solutions. This comes at a perfect time as the global electrification revolution gathers pace.  

“We are also pleased to be joining with a multinational business to invest in and co-develop a new lease company, with all the Select brands right at its heart.

“It’s a truly unique move where a broker and leasing company can feed each other and thus provide true economies of scale and value to the consumer, helping people make the seamless transition to not only electric vehicles, but also charging and home energy.”