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VinFast Auto India has entered into a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to simplify retail financing for its electric vehicles. Through this partnership, SBI will extend credit solutions via its extensive branch network and VinFast dealerships, making EV ownership more accessible to Indian customers.
Under the agreement, SBI will provide financing across VinFast’s full range of vehicles with competitive interest rates, flexible repayment options, and up to 100% on-road funding. Customers will also benefit from priority loan processing and special offers. To assist buyers, SBI representatives will be present at VinFast showrooms across the country.
With nearly 23,000 branches nationwide, SBI’s widespread reach is expected to boost access to EV financing in both urban and emerging markets. The initiative is seen as a significant step toward supporting India’s growing electric vehicle adoption and promoting sustainable mobility.
The MoU was signed by Pham Sanh Chau, CEO of VinFast Asia, and Ajay Kumar Jha, General Manager – Retail Loans at SBI.
Commenting on the collaboration, Pham Sanh Chau said the partnership with SBI would strengthen VinFast’s market presence in India. Meanwhile, Ajay Kumar Jha highlighted that SBI had raised ₹128 crore through Green Deposits in FY 2024–25, which is being directed toward EV financing. He added that the bank is targeting a 7.5% green portfolio share by 2030.
This development comes as VinFast gears up to launch its VF 6 and VF 7 models in India. The company has also recently inaugurated its EV assembly facility in Tamil Nadu, marking a key milestone in its local manufacturing and long-term expansion plans.
