VinFast Auto India, the Indian subsidiary of Vietnamese EV maker VinFast, has signed an MoU with State Bank of India (SBI), the country’s largest bank, to offer car financing options through its exclusive dealer network.
The agreement aims to offer a seamless suite of credit solutions ahead of the company’s highly anticipated launch, VinFast said in a statement last Friday.
As part of the agreement, customers will get customized loan options such as low interest rates, flexible repayment plans, up to 100% on-road funding, special offers, and priority services for all VinFast vehicles.
SBI staff will be present at every VinFast showroom to give on-the-spot support, making it easier and more convenient for more Indians to own an EV.
According to the statement, the collaboration allows VinFast to leverage State Bank of India’s extensive pan-India network of nearly 23,000 branches to reach customers across urban and emerging markets alike.
The partnership also supports VinFast’s larger mission to promote sustainable transportation in India, one of the world’s fastest-growing EV markets.
The agreement shows VinFast’s commitment to making electric mobility easier and more affordable for Indian buyers.
With affordable loan options and smooth customer support, VinFast aims to help more people switch to its EVs as electric vehicles quickly become an important part of India’s transport future.
“Our collaboration with the State Bank of India, the nation’s largest and most trusted nationalized bank, is a significant step in building a strong foundation for VinFast’s growth in India,
“SBI’s unmatched reach and credibility, combined with our premium electric vehicle portfolio, will make VinFast vehicles more accessible to customers across urban and rural markets,” said Pham Sanh Chau, Chief Executive Officer of VinFast Asia.
According to him, this partnership will not only offer convenient and competitive financing solutions but also extend the brand’s presence to a broader audience enabling a seamless and holistic EV ownership journey.
Shri. G. S. Rana, Deputy Managing Director, Retail-Personal Banking & Real Estate, State Bank of India, said that as EV adoption accelerates, access to financing will be key to driving this transition.
“Our collaboration with VinFast will not only provide customers with convenient credit options for its premium EV lineup but also reinforce the Bank’s commitment to building a 7.5 percent green portfolio by 2030,
“With over ₹128 crore already raised through Green Deposits for EV loans in FY25, we see partnerships like this as vital catalysts in advancing India’s shift toward sustainable mobility,” he added.
As VinFast gears up for the launch of its VF 6 and VF 7 models, this agreement highlights the company’s ongoing efforts to establish a strong and customer-focused footprint in India, said the statement.
VinFast said it has also recently inaugurated its EV assembly plant in Tamil Nadu, marking a significant milestone in its long-term growth strategy.
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