VinFast Auto India, a leading electric vehicle (EV) manufacturer, has partnered with the State Bank of India (SBI) to provide specialized retail car financing to its customers. The collaboration, formalized through a Memorandum of Understanding (MoU), aims to simplify the financing process for VinFast’s premium EV portfolio. As part of the agreement, dedicated SBI representatives will be stationed at VinFast showrooms to guide customers through the financing process, ensuring a seamless and convenient experience.
The partnership leverages SBI’s extensive network of nearly 23,000 branches, allowing VinFast to reach a broader audience across urban centers and smaller towns in India. This alignment is crucial for VinFast’s goal of accelerating EV adoption in one of the world’s fastest-growing markets. According to Pham Sanh Chau, CEO of VinFast Asia, the collaboration combines SBI’s unmatched reach and credibility with VinFast’s premium EV portfolio, creating a strong foundation for the company’s growth in India.
The partnership also supports SBI’s broader sustainability target of building a 7.5% green portfolio by 2030, with EV financing playing a crucial role. As VinFast prepares to launch its VF 6 and VF 7 models in India and expands its new assembly plant in Tamil Nadu, the agreement with SBI represents a critical step in building a robust, customer-focused ecosystem. This ecosystem aims to simplify EV ownership while supporting India’s transition to sustainable mobility.
The partnership is a significant milestone for VinFast as it continues to expand its presence in the Indian market. With the opening of its first showroom in Surat, VinFast is committed to providing its customers with a comprehensive and convenient experience. The collaboration with SBI is expected to play a vital role in driving VinFast’s growth in India and contributing to the country’s sustainable mobility goals. By providing tailored retail car financing, VinFast and SBI are working together to make EV ownership more accessible and affordable for customers across India.