VinFast Auto India, a subsidiary of the global 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. The partnership aims to offer a seamless suite of credit solutions ahead of the company’s highly anticipated launch.
The MoU was signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, with Mr. Munish Sharda, Executive Director, Axis Bank, and Mr. Hemant Nagpal, Business Head – Wheels at Axis Bank
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% 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.
The MoU was signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, along with Mr. Munish Sharda, Executive Director, Axis Bank, and Mr. Hemant Nagpal, Business Head – Wheels at Axis Bank.
Mr. Pham Sanh Chau, CEO of VinFast Asia, shared, “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.”
Commenting on the collaboration, Mr. Munish Sharda, Executive Director, Axis Bank, said, said, “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.”
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.
About VinFast
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses.
VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia.
Learn more at: www.vinfastauto.in.
About Axis Bank
Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. It has 5,879 domestic branches (including extension counters) and 14,134 ATMs and cash recyclers spread across the country as on 30th June 2025. The Bank’s Axis Virtual Centre is present across eight centres with over ~1,825 Virtual Relationship Managers as on 30th June 2025. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A. TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.
For further information on Axis Bank, please refer to the website: www.axisbank.com.
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