VinFast Auto India, a subsidiary of the Vietnam-based electric vehicle (EV) brand VinFast, has signed a memorandum of understanding (MoU) with Axis Bank, one of the largest private sector banks in India, to provide auto and inventory financing for its exclusive dealer network.
VinFast said in a statement on last Thursday that the partnership aims to offer a seamless suite of credit solutions ahead of the company’s highly anticipated launch.
Under the dealer finance tie-up, Axis Bank will extend up to 200 Crore finance to VinFast dealers.
The retail finance agreement also brings a wide range of benefits for customers, such as attractive interest rates, flexible repayment options, 100 percent on-road funding, exclusive offers, and priority services—applicable across VinFast’s entire product portfolio.
Dedicated Axis Bank representatives will be available at all VinFast showrooms to provide on-site support, making EV ownership more accessible and convenient for Indian consumers.
The collaboration enables VinFast to leverage Axis Bank’s extensive pan-India branch network and digital platforms to reach customers across both urban and emerging markets.
It also aligns with the company’s broader goal of accelerating the adoption of sustainable transportation solutions in India, one of the fastest-growing EV markets globally.
“Financing is a critical enabler in the EV transition, and this MoU is a strong step towards building an inclusive ecosystem for our buyers,
“By working with a digitally progressive financial institutions like Axis Bank, we are enabling more Indian consumers to take the electric leap with ease and confidence,” said Pham Sanh Chau, Chief Executive Officer of VinFast Asia.
Munish Sharda, Executive Director, Axis Bank, said that 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,” he added.
As VinFast gears up for the launch of its VF 6 and VF 7 models, this partnership highlights the company’s ongoing efforts to establish a strong and customer-focused footprint in India.
In early August, the automaker has also inaugurated its EV factory in Thoothukudi, Tamil Nadu, further reinforcing its long-term commitment to the market, said the statement.