VinFast Auto India, a subsidiary of global electric vehicle manufacturer VinFast, has entered into a strategic partnership with Bank of Baroda to provide dealer invoice financing solutions for its exclusive dealer network, strengthening its expansion strategy in the Indian electric mobility market.
Under the Memorandum of Understanding (MoU), Bank of Baroda will extend financing of up to ₹200 crore to VinFast dealers on flexible terms. The initiative is aimed at supporting inventory management, accelerating dealership network expansion, and ensuring smoother operations across VinFast’s growing retail footprint in India.
The partnership allows VinFast to leverage Bank of Baroda’s extensive pan-India branch network and digital platforms, enabling wider reach across both urban centres and emerging markets. The collaboration also aligns with VinFast’s broader objective of accelerating sustainable transportation adoption in India, one of the world’s fastest-growing EV markets.
The MoU was signed at the Bank of Baroda Corporate Centre in Mumbai by Pham Sanh Chau, CEO of VinFast Asia, along with Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending and Supply Chain Finance, and D Ananda Kumar, General Manager – Supply Chain Finance, Bank of Baroda.
Commenting on the partnership, Pham Sanh Chau said the collaboration would help build a strong EV ecosystem by offering hassle-free financing solutions that enable dealers to efficiently manage inventory, while also ensuring a smoother ownership experience for customers and supporting India’s transition toward greener mobility.
Madhur Kumar said access to timely and tailored financing will play a critical role in driving EV adoption. He added that the partnership reflects Bank of Baroda’s commitment to sustainability while empowering dealers with convenient credit solutions aligned with VinFast’s premium electric vehicle portfolio.
Having completed one year in India, VinFast has steadily strengthened its presence through a long-term development strategy, a premium EV product lineup, and the creation of a comprehensive ecosystem spanning manufacturing, retail, charging infrastructure and after-sales services. The company continues to focus on innovation, user-centric solutions and sustainable development to support the long-term growth of India’s automotive industry.
VinFast, listed on NASDAQ under the ticker VFS, is a subsidiary of Vingroup JSC and operates as a pure-play EV manufacturer with a portfolio that includes electric SUVs, e-scooters and e-buses, while expanding its global manufacturing and dealership footprint across Asia, Europe and North America.
