VinFast Auto India, a subsidiary of the 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 agreement comes ahead of VinFast’s highly anticipated India launch and aims to make electric vehicle ownership more accessible nationwide.
The partnership will provide customers with attractive interest rates, flexible repayment options, up to 100% on-road funding, and exclusive offers across VinFast’s entire product portfolio. Dedicated SBI representatives will be available at VinFast showrooms to deliver on-site support, simplifying the purchase process for EV buyers.
Leveraging SBI’s vast network of nearly 23,000 branches, the collaboration will enable VinFast to extend its reach across both urban and emerging markets. The initiative aligns with VinFast’s mission to accelerate EV adoption in India—one of the world’s fastest-growing electric mobility markets.
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 building a strong foundation for VinFast’s growth in India. This partnership will not only provide competitive financing solutions but also extend the brand’s presence across urban and rural markets, creating a seamless EV ownership journey.”
Shri G. S. Rana, Deputy Managing Director, Retail-Personal Banking & Real Estate, SBI, added:
“As EV adoption accelerates, access to financing will be key to driving this transition. Our partnership with VinFast reinforces our commitment to building a 7.5% green portfolio by 2030. With over ₹128 crore already raised through Green Deposits for EV loans in FY25, we see this collaboration as a catalyst for India’s sustainable mobility shift.”
The MoU signing comes as VinFast prepares to launch its VF 6 and VF 7 models in India and follows the recent inauguration of its EV assembly plant in Tamil Nadu, a cornerstone of its long-term expansion strategy.
