VinFast Auto India, the Indian subsidiary of Vietnamese EV manufacturer VinFast, has signed its first banking partnership in the country with HDFC Bank. The agreement, formalized on August 11, 2025, marks a significant step toward the company’s highly anticipated entry into the Indian electric vehicle market.
Strategic Financing Collaboration
The Memorandum of Understanding (MoU) will provide auto loans for customers and inventory financing for VinFast’s dealer network, supporting the launch of its VF 6 and VF 7 electric SUV models in India.
Key benefits of the agreement:
- Customer Financing – HDFC Bank to offer competitive auto loans for VinFast buyers.
- Dealer Network Support – Inventory financing to strengthen the company’s retail and charging infrastructure network.
- Pan-India Reach – Access to HDFC Bank’s extensive branch network and digital platforms across urban and rural markets.
Leaders Speak on the Partnership
Pham Sanh Chau, CEO of VinFast Asia, called the MoU a “significant milestone in our efforts to make electric mobility more inclusive, convenient, and future-ready for Indian consumers.” He emphasized that partnering with a trusted institution like HDFC Bank ensures not only quality products but also a robust financial ecosystem to support customers and dealers.
Arvind Vohra, Group Head – Retail Assets at HDFC Bank, highlighted the growing role of financing in accelerating EV adoption. “This partnership will help customers access VinFast’s product line through tailored financing solutions, aligning with our mission to support sustainable mobility,” he said.
VinFast’s Entry into the Indian EV Market
VinFast’s move comes as India emerges as one of the fastest-growing EV markets globally. The partnership is expected to:
- Make EV ownership more accessible through financing options.
- Facilitate the development of a robust dealer network and charging infrastructure.
- Strengthen VinFast’s competitive positioning before the VF 6 and VF 7 launch.
About VinFast
- Parent Company: Vingroup JSC (Vietnam’s largest conglomerate)
- Listed On: NASDAQ (Ticker: VFS)
- Product Range: Electric SUVs, e-scooters, e-buses
- Global Focus: Expanding across North America, Europe, and Asia
- Mission: Make electric mobility accessible to everyone through innovation and sustainability
What This Means for Indian EV Buyers
With this collaboration, prospective VinFast customers in India can expect:
- Easier access to vehicle financing.
- Competitive loan terms from one of India’s largest private sector banks.
- Wider availability of VinFast products in both metro and non-metro areas.
Key Takeaway: This partnership sets the stage for VinFast’s ambitious debut in India, combining its global EV expertise with HDFC Bank’s financial strength to make electric mobility more accessible and attractive to Indian buyers.
