Quick Overview
- VinFast India signs MoU with State Bank of India (SBI) for exclusive EV financing solutions
- Customers get flexible repayment options, low interest rates, and up to 100% on-road funding
- Dedicated SBI staff to assist buyers directly at VinFast showrooms across India
- Partnership strengthens India’s EV adoption and aligns with SBI’s green banking goals
A Big Step Toward Accessible EVs
Buying an electric vehicle is still a dream for many Indians. While interest is high, affordability often gets in the way. Recognising this gap, VinFast India has joined hands with the State Bank of India (SBI) to make the switch to electric mobility smoother.
This isn’t just about signing an MoU on paper. It’s about giving customers real, practical options that put EVs within their reach. And with the launch of the VF 6 and VF 7 SUVs around the corner, the timing couldn’t be better.
Financing Made Simple
One of the biggest hurdles in EV ownership is the upfront cost. Through this partnership, customers will get access to customised loan solutions—low interest rates, flexible repayment schedules, and even 100% funding on the on-road price.
But VinFast and SBI have gone a step further. Instead of sending buyers back and forth between dealerships and banks, SBI will place its staff right inside VinFast showrooms. That means a buyer can walk in, explore the cars, and sort out financing all under one roof. It’s designed to cut the clutter and make EV buying as simple as possible.
Taking EVs Beyond the Big Cities
India isn’t just about metro buyers. Smaller towns and semi-urban areas are now warming up to electric mobility, and this is where SBI’s 23,000-strong branch network becomes a game-changer.
For VinFast, this reach is gold. It means their premium electric SUVs won’t be limited to a handful of showrooms in big cities but can find homes in far more diverse markets. CEO Pham Sanh Chau called it a “foundation for growth,” and he’s right—SBI’s credibility and network open doors that would otherwise take years to unlock.
A Partnership With Purpose
This deal is also tied to a bigger mission: sustainability. SBI is targeting a 7.5% green loan portfolio by 2030, and EVs are central to that goal. The bank has already raised ₹128 crore through Green Deposits for EV loans in FY25, showing that its commitment is more than words.
For VinFast, fresh off the opening of its EV assembly plant in Tamil Nadu, this partnership reinforces its intent to be here for the long run. By combining local production with easier financing, the company is giving itself the tools to compete in India’s fast-growing EV market.
Voices Behind the Partnership
For VinFast Asia’s CEO Pham Sanh Chau, the tie-up with SBI is a true “foundation for growth”, opening doors to both cities and small towns while giving customers a seamless EV ownership journey. G. S. Rana of SBI highlighted that affordable financing is key to mass EV adoption, linking the deal to the bank’s green push and its ₹128 crore already raised for EV loans. Signing the MoU, Ajay Kumar Jha reinforced SBI’s promise of customer-first support, with dedicated staff at VinFast showrooms to make buying an EV as easy as possible.
Conclusion
The VinFast–SBI partnership isn’t just a corporate announcement. It’s a signal that EV ownership in India is about to get easier, fairer, and more widespread.
With SBI handling the financing and VinFast rolling out its new models, Indian buyers now have one less reason to hesitate. It’s not just about selling cars—it’s about giving people the confidence to embrace electric mobility. And in a country racing toward a cleaner future, that could make all the difference.
Also check out: VinFast India and HDFC Bank Join Forces to Power EV Financing Ahead of Major Launch