VinFast Auto India, the subsidiary of Vietnamese electric vehicle manufacturer VinFast, has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to provide retail financing solutions for its electric vehicles in the country.
The partnership is designed to make EV ownership more accessible by offering competitive interest rates, flexible repayment terms, and up to 100% on-road funding. Customers will also benefit from priority processing and special offers, with SBI representatives available at VinFast showrooms nationwide to assist with loan applications.
SBI’s extensive network of nearly 23,000 branches across India will enable VinFast to reach both urban and emerging markets, broadening access to financing and supporting the government’s push toward sustainable mobility.
The MoU was signed by Pham Sanh Chau, CEO of VinFast Asia, and Ajay Kumar Jha, General Manager – Retail Loans at SBI. Chau emphasised that the collaboration aligns with VinFast’s goal of building a strong presence in India, while Jha noted the bank’s commitment to green financing, highlighting its ₹128 crore raised through Green Deposits in FY 2024–25. SBI aims to achieve a 7.5% green portfolio by 2030, with EV funding playing a key role.
This collaboration comes as VinFast prepares to launch its VF 6 and VF 7 models in India and expands its local operations with a new EV assembly facility in Tamil Nadu.
The initiative underscores VinFast and SBI’s joint commitment to accelerating India’s transition toward electric mobility by combining manufacturing strength with robust financial accessibility.