Automotive Business

BYD Offers Incentives for Grab Drivers, While Sealion 5 Receives Mixed Safety Rating

BYD is partnering with GXS Bank to offer financing options for Grab drivers, while the BYD Sealion 5 has received a 3-star safety rating from ANCAP.

News AutomationCompiled 08:05 UTC · 1 min read

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Up to $0 down payment for a new BYD: The scheme helping Grab drivers own a car

BYD by JC and GXS Bank combine full financing, servicing and battery coverage to ease the costs of going electric or hybrid

PHV driver Sheik Ismail Mohamed Faisal with BYD by JC sales consultant Priscillia Yeo.

Private-hire vehicle driver Sheik Ismail Mohamed Faisal (right) explores joining the new green vehicle financing programme with BYD by JC sales consultant Priscillia Yeo.

PHOTO: BYD BY JC

PublishedSep 30, 2026, 04:00 AM

For private-hire vehicle (PHV) driver Sheik Ismail Mohamed Faisal, his car is not simply a way to get from one place to another. It is an essential part of how he makes a living.

So when the 54-year-old heard about a new programme that brings together vehicle financing, servicing support, and a choice of electric and hybrid cars for Grab driver-partners, he was keen to find out more.

He says: “It should benefit us in the long run, since the financing, driving platform and BYD vehicles are all brought together to help drivers.”

The programme, which is by home-grown digital bank GXS Bank, aims to lower some of the financial barriers Grab drivers may face when buying an electric vehicle (EV) or a hybrid for private-hire work.

Authorised BYD dealer BYD by JC is the bank’s first car dealership partner for the programme.

Managing director of BYD Singapore and president of BYD Philippines James Ng; CEO of BYD by JC Jessica Ang; group CEO of GXS Bank Lai Pei-Si; managing director of Grab Singapore Alejandro Osorio; and group head of retail of GXS Bank Jenn Ong at the green vehicle financing programme signing ceremony.

From left: Managing director of BYD Singapore and president of BYD Philippines James Ng; CEO of BYD by JC Jessica Ang; group CEO of GXS Bank Lai Pei-Si; managing director of Grab Singapore Alejandro Osorio; and group head of retail of GXS Bank Jenn Ong at the green vehicle financing programme signing ceremony.

PHOTO: BYD BY JC

Eligible drivers can receive up to 100 per cent loan-to-value financing under the commercial private hire car exemption scheme, subject to GXS Bank’s credit assessment and approval.

This means they could potentially finance the entire purchase with a $0 down payment.

Promotional interest rates start from 2.78 per cent, with the final rate and monthly repayment depending on factors such as the loan amount, repayment period and driver’s profile.

What Grab driver-partners need to know about GXS AutoLoan at BYD by JC

You may not need a down payment

Eligible Grab driver-partners can finance up to the full cost of the vehicle, potentially buying a BYD car with $0 down payment.

Interest rates start from 2.78 per cent

The final interest rate and monthly repayment will vary depending on factors such as the loan amount, repayment period and the driver’s profile.

There are EV and hybrid options

Drivers can choose from six BYD models, including fully electric and DM-i hybrid options, depending on their driving needs.

Battery warranty and servicing are included

The vehicles come with an eight-year or 500,000km battery warranty, along with 20 complimentary servicing packages covering up to 500,000km.

Supporting PHV drivers through their car ownership journey

Full-time PHV drivers can clock up high mileage, making the cost of buying, running and maintaining their vehicles an important consideration.

Beyond making it more affordable to purchase a new EV or hybrid car, the programme also helps alleviate some of the costs of owning a vehicle, such as longer-term maintenance.

Participating vehicles come with an eight-year or 500,000km battery warranty too. Drivers also receive 20 complimentary servicing packages, capped at 500,000km of usage.

Drivers can choose from six models, which includes the BYD Seal 6 DM-i and Sealion 6 DM-i hybrids, as well as the Atto 3 Evo.

For drivers concerned about range and charging time, the Sealion 6 DM-i offers the longest driving range among the participating models, at up to 1,100km.

There are six BYD models, including the BYD Sealion 6 DM-i, for Grab driver-partners to choose from.

PHOTO: BYD BY JC

The Atto 3 Evo, meanwhile, supports DC charging of up to 110kW and can be fully charged in about an hour.

The mix of electric and hybrid models gives them options depending on their daily mileage, passenger needs and driving patterns.

Making the switch easier

The tie-up also seeks to simplify what can otherwise be a multi-step process of choosing a vehicle, arranging financing and managing its upkeep.

BYD by JC will support drivers from vehicle selection and test drives through to financing arrangements and aftersales support.

Drivers can visit its showrooms at Teban Gardens and VivoCity to see the participating models and discuss their requirements.

PHV drivers form an important segment in Singapore’s shift towards cleaner vehicles.

Because their cars are used intensively, however, the decision to switch is not simply an environmental one. The numbers have to work too.

Jessica Ang, chief executive officer of BYD by JC, notes that the programme is intended to give Grab drivers access to “affordable and reliable green vehicles” while lowering their daily operating costs.

Jenn Ong, GXS Bank’s group head of retail says that financing for greener vehicles is a key consideration for PHV drivers.

She says: “For many driver-partners, their vehicle is essential to their livelihood. Switching to an electric or hybrid vehicle must make sense for them financially in the long run.”

For Faisal, the combination of vehicle financing and other benefits makes the programme worth considering.

He says: “I definitely hope to be part of the programme. It could make things easier for drivers like me in the long run.”

Interested Grab driver-partners can find out more about the GXS AutoLoan at BYD by JC programme , explore the participating BYD models and register for a test drive.

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