BYD and Car Inc. sign a letter of intent on 100,000 rental cars and Flash Charging. Source: BYD Understand China EV’s Market Real-time notifications when critical EV data is released All important data in one place 2,000,000+ data points Become a member Car Inc., one of China’s largest auto rental providers, has signed a letter of intent (LOI) with BYD regarding the purchase of 100,000 of the firm’s cars. The joint declaration also aims to establish BYD’s Flash Charging stations at Car Inc.’s retail locations, building up to what the two parties call the “Flash Charging China Strategy”. BYD has previously partnered with Car Inc., providing the rental firm with 3,000 Qin Plus DM-i plug-in hybrid (PHEV) sedans as part of a pilot scheme in early 2025. Car Inc, also known as Shenzhou Zuche in Chinese market, ended up acquiring almost 30,000 vehicles from BYD in the same year, expanding its fleet with the automaker’s EVs and hybrids. The LOI also covers the expansion of BYD’s Flash Charging network, with Car Inc. committing to installing the automaker’s charging stalls at suitable rental locations across China. Car Inc. claims it has over 3,500 rental locations in China, although this figure includes both staffed and self-service pickup facilities. BYD chairman Wang Chuanfu and Car Inc. chairman Yu Hongfei, among others at the signing ceremony.Source: BYD More on Car Inc. (Shenzhou Zuche) Car Inc. claims to be the largest auto rental company in China, with foreign rental firm Hertz being one of its key shareholders. Boasting more than 190,000 vehicles, the firm states on LinkedIn that its fleet is larger than that of its 19 closest competitors in China combined. The rental firm has previously partnered with Baidu Apollo, Baidu’s L4-level autonomous driving platform. The two firms announced in mid-2025 the world’s first autonomous driving rental product, promising renters a seamless experience with an autonomous “chauffeured” service. The service was to be based on Apollo Go, Baidu’s autonomous ride-hailing platform. More on BYD and Flash Charging Since its announcement in February 2026, BYD has made a huge push with its Flash Charging technology. The automaker is constantly pushing out refreshed models with Flash Charging, and has committed to building 20,000 Flash Charging stations by the end of 2026. BYD’s Flash Charging stations. Source: BYD BYD claims that Flash Charging tech will allow its cars to charge at ICE-like speeds: 5 minutes from 10% to 70% 9 minutes from 10% to 97% Only 3 minutes slower at -30°C BYD’s domestic deliveries, April 2025 to March 2026. Source: China EV DataTracker According to China EV DataTracker, BYD delivered a consistent 250,000 to 300,000 vehicles from April to December 2025. The New Year celebrations in January and February 2026 led to a predictable and expected dip, but sales have not recovered to previous levels in March. This seemingly strong figure masks the fact that BYD’s year-on-year performance is declining significantly. Amid its record sales slump in China, BYD is under pressure to keep its products competitive. Flash Charging is BYD’s answer to its battery swapping rivals, like NIO and CATL‘s Choco-SEB ecosystem. Fleet sales with a rental firm may also present unique opportunities for the automaker, giving skeptical or curious drivers hands-on experience with its cars and charging network.