By Adria Calatayud

Jeep owner Stellantis entered into a multi-billion-euro agreement to sell up to half a million vehicles to Ayvens, a leasing company majority owned by Societe Generale.

The European car maker and the French car-leasing company said Monday that they reached a frame agreement that encourages Ayvens's affiliates to buy vehicles for its long-term leasing fleet across Europe over the next three years.

The deal covers vehicle classes ranging from city cars to sport-utility vehicles and vans and includes battery-electric vehicles, the companies said.

First delivery volumes are expected to start in the first half of 2024 and to continue throughout the year, the companies said.

Beyond the volumes already planned for 2024, specific order quantities, composition and dates can be adjusted between the two companies, taking into account demand and fleet requirements, they said.

Write to Adria Calatayud at

(END) Dow Jones Newswires

02-26-24 0209ET