VinFast India Teams Up with SBI for EV Financing

VinFast Auto India, the Indian arm of the global electric vehicle brand VinFast, has partnered with State Bank of India (SBI) to offer retail car financing across its exclusive dealer network. This collaboration is designed to make EV ownership more accessible and convenient ahead of VinFast’s highly anticipated launch in India.

The agreement marks a strategic move for VinFast to accelerate its entry into the fast-growing Indian EV market while leveraging SBI’s extensive presence across urban and rural regions.

MoU Signed Between VinFast and SBI

The Memorandum of Understanding (MoU) was signed by Pham Sanh Chau, CEO of VinFast Asia, and Ajay Kumar Jha, General Manager – Retail Loans, State Bank of India. The partnership aims to provide tailored financing solutions for VinFast customers and strengthen the company’s foothold in India’s premium EV segment.

According to Pham Sanh Chau:

“Our collaboration with SBI, the nation’s largest and most trusted nationalised 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 EV portfolio, will make VinFast vehicles more accessible to customers across urban and rural markets.”

Financing Solutions for VinFast Customers

Under this partnership, VinFast customers can benefit from a comprehensive suite of EV financing options:

• Attractive interest rates and flexible repayment plans.

• Up to 100% on-road funding for select models.

• Exclusive offers and priority services for VinFast buyers.

• On-site support through dedicated SBI representatives at all VinFast showrooms.

These solutions are designed to make it easier for customers to purchase VinFast EVs, enabling a seamless ownership experience.

Leveraging SBI’s Pan-India Network

SBI’s vast network of nearly 23,000 branches across India allows VinFast to reach potential customers in both metropolitan and emerging markets. The bank’s credibility and widespread presence will help the brand scale its operations quickly while building trust among first-time EV buyers.

According to G. S. Rana, Deputy Managing Director, Retail-Personal Banking & Real Estate, SBI:

“Our collaboration with VinFast will provide customers convenient credit options for its premium EV lineup and reinforce the Bank’s commitment to building a 7.5% green portfolio by 2030. With over ₹128 crore already raised through Green Deposits for EV loans in FY25, partnerships like this are vital catalysts for advancing India’s shift toward sustainable mobility.”

Strategic Importance for VinFast India

This partnership aligns with VinFast’s broader goals in India:

• Accelerating the adoption of electric vehicles in the country.

• Establishing a customer-focused presence in urban and rural regions.

• Enhancing the premium EV ownership journey through financing and support services.

With the launch of its VF 6 and VF 7 models, VinFast is gearing up to make a strong impact in India’s competitive EV market.

VinFast’s EV Assembly and Expansion in India

VinFast recently inaugurated its EV assembly plant in Tamil Nadu, reinforcing its commitment to local manufacturing and long-term growth in India. By combining manufacturing capabilities with financial accessibility through SBI, VinFast aims to provide a holistic EV ownership experience.

The company also plans to expand its dealership and service network to ensure post-sales support aligns with its premium brand positioning.

Driving Sustainable Mobility in India

The partnership with SBI reflects VinFast’s focus on promoting sustainable transportation solutions in India. By simplifying EV financing and offering competitive credit options, VinFast is contributing to India’s transition to cleaner mobility.

SBI’s green finance initiatives, including raising funds through Green Deposits, further support the adoption of EVs, making this collaboration a step toward eco-friendly and inclusive mobility solutions.

Conclusion

The VinFast-SBI partnership is a landmark move in India’s EV ecosystem. By providing accessible financing, dedicated support, and flexible credit solutions, VinFast is lowering barriers for Indian consumers to enter the electric mobility segment.

Coupled with the launch of VF 6 and VF 7 models and the Tamil Nadu assembly plant, VinFast is strategically positioning itself as a major player in India’s premium EV market, ensuring growth, accessibility, and sustainability go hand in hand.