VinFast India, SBI Partner to Finance EV Dealer Network

• VinFast Auto India signs an MoU with SBI to provide inventory financing for its exclusive dealer network
• SBI will offer competitive interest rates, flexible repayment options, and tailored credit solutions to VinFast dealers
• The collaboration supports VinFast’s VF 6 and VF 7 launches and aims to accelerate electric vehicle adoption across India

VinFast Auto India, the Indian subsidiary of the international electric vehicle (EV) brand VinFast, has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to offer inventory financing for its exclusive dealer network.

This collaboration is intended to strengthen VinFast’s role in the Indian landscape and to hasten the adoption of EVs in India. The VinFast India SBI partnership aims to provide comprehensive EV dealer finance India solutions, strengthening the company’s electric vehicle network funding.

As part of this arrangement, SBI will look to provide financing to VinFast dealers on specific terms, including attractive financing rates, repayment terms and a range of tailored credit products to meet the specific requirements of the EV market.

Utilizing SBI’s extensive branch network and new digital platform capabilities will enable VinFast to further provide better services to consumers in urban, and underserved, markets, and allow for a more seamless transition to electric mobility within one of the fastest growing EV markets in the world. This collaboration supports VinFast EV expansion and delivers tailored EV financing solutions India to accelerate electric vehicle adoption nationwide.

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The event saw the Memorandum of Understanding being signed solemnly in the presence of Mr. Pham Sanh Chau, CEO of VinFast Asia, Anindya Sunder Paul, Deputy Managing Director, and Debasis Mohanty, General Manager (SME & SCF) SBI, who represented the partnership between VinFast and SBI.

The MoU comes on the heels of the announcement of VinFast of their much-awaited VF 6 and VF 7 EVs for India. The partnership expresses VinFast's intent of setting up a complete EV ecosystem oriented towards the customer in India with futuristic vehicles, the financing of dealers, and continuing operational support for the dealer as well as end customers.

VinFast sees a mass adoption of EVs, with sustainable and affordable mobility solutions for an Indian consumer, as the key.