Under the deal, SBI will extend credit to VinFast’s dealers on favorable terms, including competitive interest rates, flexible repayment plans, and other credit solutions. The partnership also allows VinFast to tap into SBI’s nationwide branch network and digital platforms to reach customers in both major cities and emerging markets.

The MoU was signed by Pham Sanh Chau, CEO of VinFast Asia, Anindya Sunder Paul, Deputy Managing Director of SBI, and Debasis Mohanty, General Manager (SME & SCF).

Pham Sanh Chau said, “At VinFast, we believe that a vibrant EV ecosystem can be built on two strong pillars, engaged customers and an empowered dealer network. This partnership with SBI marks a crucial step in strengthening our dealer network and empowering them with seamless access to credit solutions. By working with one of India’s largest and most trusted banking institutions, we are creating a stronger financial backbone that supports our dealers in expanding operations and serving customers with confidence. Together, we are laying the foundation for a robust ecosystem that will accelerate the growth of electric mobility across India.”

Commenting on the tie-up, Anindya Sunder Paul noted, “As EV adoption accelerates, access to financing will play a vital role in driving this transition. Our collaboration with VinFast will offer customers convenient credit solutions tailored to its premium EV lineup, reflecting the Bank’s broader commitment to sustainability. Such partnerships also help us empower our customers to achieve their green mobility aspirations with ease.”

VinFast recently launched its premium VF 6 and VF 7 models in India, underscoring its efforts to establish a stronger presence in one of the world’s fastest-growing EV markets.

VinFast to launch first battery-swapping electric motorbike in October

Automaker VinFast, a subsidiary of conglomerate Vingroup, announced it would debut its first battery-swapping electric motorbike model, Evo Max, this October at an expected price of VND20 million (US$759).