VINFAST COOPERATES WITH STATE BANK OF INDIA (SBI) TO PROMOTE FINANCING SOLUTIONS FOR ELECTRIC VEHICLES

Gurugram, August 22, 2025 – VinFast announced the signing of a Memorandum of Understanding (MoU) with the State Bank of India (SBI), the largest bank in the country, to provide car loan packages to individual customers through its exclusive dealer network. The agreement aims to provide customers with comprehensive and seamless financial solutions ahead of the official launch of the product in India.

Under the agreement, customers will have access to a variety of flexible financial solutions, including attractive interest rates, convenient installment options, financial support up to 100% of the vehicle price, exclusive incentives, and priority services, applicable to the entire VinFast product portfolio. SBI's dedicated representatives will be present at all VinFast showrooms to provide direct support, making electric vehicle ownership easier and more convenient for a large number of Indian consumers.

This partnership allows VinFast to leverage SBI’s network of nearly 23,000 branches across India to reach customers from urban to emerging markets. At the same time, this is also a step in line with VinFast’s long-term goal of promoting sustainable mobility in India – one of the fastest growing electric vehicle markets in the world .

The agreement also highlights VinFast’s commitment to simplifying electric vehicle ownership for Indian customers. Through competitive financing packages and convenient support services, VinFast aims to bring the opportunity to experience electric vehicles to more consumers as green vehicles are fast becoming an inevitable part of the future of transportation in the country.

The MoU was signed by Mr. Pham Sanh Chau, General Director of VinFast Asia, and Mr. Ajay Kumar Jha, General Director - Retail Credit, State Bank of India.

Mr. Pham Sanh Chau (second from left), General Director of VinFast Asia at the signing ceremony.

Mr. Pham Sanh Chau, General Director of VinFast Asia, shared:
“Partnering with the State Bank of India - the country's largest and most prestigious state-owned bank - is an important step in building a solid foundation for VinFast's development in India. SBI's wide coverage and outstanding reputation, combined with our premium electric vehicle fleet, will make VinFast products even more accessible to customers from urban to rural areas. This cooperation not only brings convenient and competitive financial solutions but also expands the brand's presence to a wide range of consumers, creating a complete and seamless journey of electric vehicle ownership.”

Mr. GS Rana, Deputy Managing Director, Retail Banking & Real Estate, State Bank of India, said:
“As the EV movement accelerates, access to finance will play a key role in this transition. Partnering with VinFast will not only provide customers with easy access to convenient financing options for our premium EVs, but also underscore our commitment to building a 7.5% green portfolio by 2030. With over INR 1,280 billion already mobilised in green deposits for EV lending in FY25, we believe that partnerships like this will be a key catalyst to accelerate India’s transition to sustainable mobility.”

As VinFast prepares to launch the VF 6 and VF 7 models, this agreement further affirms the company’s efforts to build a solid foundation and focus on customers in India. Previously, VinFast also inaugurated an electric vehicle assembly plant in Tamil Nadu, marking an important milestone in its long-term development strategy in this market.

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About VinFast

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure electric vehicle (EV) manufacturer with a mission to make electric vehicles more accessible to everyone. VinFast’s current product portfolio includes a diverse range of electric SUVs, electric scooters, electric bicycles, and electric buses.

VinFast is entering the next phase of growth through rapidly expanding its global distribution and dealer network and strengthening its production capacity, focusing on key markets in North America, Europe and Asia.

Learn more at: https://www.vinfastauto.in/  

About State Bank of India (SBI)

State Bank of India (SBI) is the country’s largest commercial bank, leading in assets, deposits, branches, customers and employees. SBI is also one of the largest mortgage lenders, helping over 3.1 million Indian households realize their dream of home ownership.

As of March 2025, the bank had total deposits of over Rs 53.82 trillion, outstanding loans of over Rs 42.2 trillion, with a market share of 27.3% in home loans and 20.2% in auto loans. Ranked as the world's fourth most trusted bank by Newsweek, SBI has India's largest network of nearly 23,000 branches and over 63,000 ATMs nationwide.

Source: https://vinfastauto.com/vn_vi/vinfast-hop-tac-ngan-hang-nha-nuoc-an-do-sbi-thuc-day-giai-pap-tai-chinh-cho-xe-dien