Updated 25 August 2025 at 17:47 IST
VinFast Ties Up with SBI for Retail EV Financing Ahead of India Launch
VinFast Auto India has partnered with SBI to provide financing for its EV lineup. The tie-up coincides with VinFast’s VF 6 and VF 7 launch and the opening of its Tamil Nadu assembly plant, which has an initial capacity of 50,000 vehicles.
VinFast Auto India has entered into a financing partnership with the State Bank of India (SBI) to provide car loans for its upcoming range of electric vehicles. The agreement, formalised through a Memorandum of Understanding (MoU), was signed by Pham Sanh Chau, CEO of VinFast Asia, and Ajay Kumar Jha, General Manager – Retail Loans, SBI.
The tie-up will allow customers to access financing through SBI’s extensive branch network across the country, with bank officials also stationed at VinFast showrooms to assist buyers.
Pham Sanh Chau, CEO of VinFast Asia, said, “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. 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.”
The collaboration comes as VinFast prepares to roll out its VF 6 and VF 7 models in India. The company recently inaugurated its first overseas electric vehicle assembly plant at the SIPCOT Industrial Park in Thoothukudi, Tamil Nadu. Spread across 400 acres, the greenfield facility begins operations with an installed capacity of 50,000 units a year, scalable to 150,000 vehicles depending on demand.
Commenting on the agreement, G.S. Rana, Deputy Managing Director – Retail, Personal Banking & Real Estate at SBI, said, “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.”
The Tamil Nadu facility will initially assemble the VF 6 and VF 7 models, aimed at India’s mid-to-premium segment. Retail sales are expected to commence later this month, marking VinFast’s formal entry into the Indian electric vehicle market.
Published By : Avishek Banerjee
Published On: 25 August 2025 at 17:47 IST