VinFast ties up with SBI for EV financing in India

Bengaluru- VinFast Auto India Pvt Ltd., a subsidiary of global EV manufacturer VinFast, has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to provide retail car financing through its exclusive dealer network. The partnership is designed to deliver seamless credit solutions ahead of VinFast’s upcoming market launch.

Under the agreement, customers will benefit from tailored financing options, including competitive interest rates, flexible repayment plans, up to 100% on-road funding, exclusive offers, and priority services across VinFast’s product portfolio. Dedicated SBI representatives will be available at all VinFast showrooms to ensure on-site support, making EV ownership simpler and more convenient for Indian consumers.

By leveraging SBI’s nationwide reach of nearly 23,000 branches, VinFast aims to expand accessibility across both urban and emerging markets. This collaboration supports the company’s larger vision of accelerating India’s transition to sustainable transportation.

Mr. Pham Sanh Chau, CEO of VinFast Asia, said, “Our collaboration with the State Bank of India, the nation’s largest and most trusted bank, is a significant step in strengthening VinFast’s foundation in India. With SBI’s reach and credibility and our premium EV portfolio, we will make VinFast vehicles more accessible to a wider audience, offering competitive financing and a seamless ownership experience.”

Mr. G. S. Rana, Deputy Managing Director – Retail, SBI, said, “As EV adoption grows, access to financing is critical to driving this transition. Through this partnership, we will provide convenient credit options for VinFast’s lineup while supporting our goal of building a 7.5% green loan portfolio by 2030. With over ₹128 crore already mobilised through Green Deposits for EV loans in FY25, such collaborations are vital to advancing India’s sustainable mobility journey.”

As VinFast prepares to launch its VF 6 and VF 7 models in India, the agreement underscores its focus on building a customer-centric ecosystem. Recently, VinFast also inaugurated its EV assembly plant in Tamil Nadu, a key milestone in its long-term strategy for the Indian market.

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