VinFast India Partners with Central Bank of India to Expand EV Financing

VinFast Auto India, a subsidiary of global EV brand VinFast, has signed a Memorandum of Understanding (MoU) with Central Bank of India (CBI), one of the nations largest banks, to provide retail car financing through its exclusive dealer network. The agreement aims to offer a seamless suite of credit solutions.

The MoU was formally signed by Mr. Pham Sanh Chau and Mr. Vivek Kumar, General Manager – Retail Assets Department, Central Bank of India

Under the agreement, customers will enjoy tailored financing solutions, including attractive interest rates, flexible repayment options, zero processing charges, exclusive offers and priority services-applicable across VinFast’s entire product portfolio. Dedicated CBI representatives will be available at all VinFast showrooms to provide on-site support, making EV ownership more accessible and convenient for a wider range of Indian consumers.

By leveraging Central Bank of India’s vast network of 4,552 branches and over 21,000 touchpoints nationwide, VinFast aims to extend its reach into both urban centers and emerging markets. This partnership aligns with VinFast’s broader mission to accelerate the adoption of sustainable mobility solutions in India-one of the fastest-growing EV markets globally.

This agreement underscores VinFast’s commitment to simplifying the path to electric mobility for Indian consumers. Through competitive financing options and seamless support, VinFast seeks to enable more customers to experience its EVs at a time when electric mobility is rapidly expanding and becoming an integral part of the nation’s transportation future.

The MoU was formally signed by Mr. Pham Sanh Chau and Mr. Vivek Kumar, General Manager – Retail Assets Department, Central Bank of India, in the esteemed presence of Central Bank of India’s Executive Directors: Mr. Vivek Wahi, Mr. M V Murali Krishna, and Mr. Mahendra Dohare.

Mr. Pham Sanh Chau, CEO of VinFast Asia, said, “Our collaboration with the Central Bank of India, the one of nation’s largest and most trusted nationalised bank, is a significant step in building a strong foundation for VinFast’s growth in India. Central Bank of India’s unmatched reach and credibility, combined with our premium electric vehicle portfolio, will make VinFast vehicles more accessible to customers across urban and rural markets. This partnership will not only offer convenient and competitive financing solutions, but also extend the brand’s presence to a broader audience, enabling a seamless and holistic EV ownership journey”

Shri Vivek Wahi, Executive Director, Central Bank of India, said, “As India marches towards Net Zero Emission vision, clean energy and innovative finance will be one of the driving forces towards the Net Zero Emission. Our alliance with VinFast reinforces our commitment to environmental-friendly clean energy initiative leading to expansion of eco-friendly Electric Cars. The Bank is expanding fast in cleaner energy initiative with an overall green portfolio of Rs. 4,200 crore as of June 2025. As of August 2025, we have mobilized over Rs. 295 crore under our Green Deposit segment and plan to extend Rs. 1,600 crore in green finance during FY 2025-26. This alliance is a step ahead to the cleaner India dreams”

As VinFast launches its VF 6 and VF 7 models, this agreement highlights the company’s ongoing efforts to establish a strong and customer-focused footprint in India. VinFast has also recently inaugurated its EV assembly plant in Tamil Nadu, marking a significant milestone in its long-term growth strategy.

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: vinfastauto.in

About Central Bank of India

Founded in 1911, Central Bank of India was the first Indian commercial bank wholly owned and managed by Indians, earning its reputation as a truly Swadeshi Bank. As of June 30, 2025, the Bank operates 4,552 branches, 4,115 ATMs, and over 12,300 BC Points, with a strong presence in rural and semi-urban areas. As of June 30^th, 2025, the Bank’s total business stands at Rs. 704,485 crore, with a deposit base of Rs.4,28,890 crore, advances of Rs. 2,75,595 crore and a CASA ratio of 46.88%.