Long term leasing and fleet management company Ayvens has reached a multi-billion euro frame agreement with Stellantis which 'could' see it add 'up to' 500,000 vehicles to its Europe fleet over the next three years.

First deliveries are expected some time in 2024 and would continue throughout the year, Stellantis said.

Alfa Romeo, Citroen, DS, Fiat and Peugeot brands are included.

Ayvens was formed in May 2023 when ALD Automotive, a majority owned subsidiary of Societe Generale, acquired LeasePlan.

It manages around 1.5m vehicles worldwide.