VinFast Partners with Central Bank of India to Drive EV Financing

VinFast Auto India has teamed up with Central Bank of India to provide retail car financing for its electric vehicles through an exclusive dealer network. This collaboration aims to make EV ownership accessible and expand the brand's presence across urban and rural markets in India.

In a significant venture into the Indian electric vehicle market, VinFast Auto India announced a strategic partnership with the Central Bank of India. The collaboration is set to pave the way for retail car financing through VinFast's dealer network.

The alliance was formalized with a Memorandum of Understanding, reflecting an ambition to provide diverse credit solutions. By leveraging the bank's vast network of over 4,552 branches, VinFast plans to enhance its presence in both urban centers and emerging markets.

VinFast Asia CEO, Pham Sanh Chau, emphasized the partnership's potential to widen the accessibility of its vehicles. Central Bank's Executive Director Vivek Wahi noted that this initiative aligns with India's commitment to a net-zero emission future, underlining the bank's effort towards expanding its green finance portfolio.

(With inputs from agencies.)