VinFast Auto India has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI) to provide retail car financing through its exclusive dealer network. The agreement aims to offer a seamless suite of credit solutions ahead of the company’s highly anticipated launch.
The MoU was signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, and Mr. Ajay Kumar Jha, General Manager – Retail Loans, State Bank of India.
Under the agreement, customers will enjoy tailored financing solutions, including attractive interest rates, flexible repayment options, up to 100% onroad funding, exclusive offers and priority services – applicable across VinFast’s entire product portfolio.
Dedicated SBI representatives will be available at all VinFast showrooms to provide onsite support, making EV ownership more accessible and convenient for a wider range of Indian consumers.
The collaboration allows VinFast to leverage State Bank of India’s extensive panIndia network of nearly 23,000 branches to reach customers across urban and emerging markets alike. It also aligns with the company’s broader goal of accelerating the adoption of sustainable transportation solutions in India, one of the fastestgrowing EV markets globally.
Pham Sanh Chau, CEO of VinFast Asia, said, “Our collaboration with the State Bank of India, 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 electric vehicle portfolio, will make VinFast vehicles more accessible to customers across urban and rural markets.”
He added, “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.”
GS Rana, Deputy Managing Director, RetailPersonal Banking & Real Estate, State Bank of India, said, “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% green portfolio by 2030. With over Rs. 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.”
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 footprint in India. VinFast has also recently inaugurated its EV assembly plant in Tamil Nadu, marking a significant milestone in its longterm growth strategy.
