VinFast India and ICICI Bank Partner to Transform EV Financing with Seamless Solutions
In a significant move set to accelerate electric vehicle (EV) adoption in India, VinFast Auto India has announced a strategic partnership with ICICI Bank, a leading private sector bank. The collaboration, formalized through a Memorandum of Understanding (MoU), aims to provide comprehensive and flexible financing solutions for VinFast's exclusive dealer network and customers.
Making EV Ownership Accessible
The partnership focuses on making EV ownership more convenient and affordable for a wider range of Indian consumers. Through this alliance, customers purchasing VinFast's new electric SUVs, the VF 6 and VF 7, will have access to a suite of customized financing options. These include :
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100% on-road fundings :
This eliminates a major financial hurdle by covering the full on-road price of the vehicle. -
Attractive interest rates :
The collaboration ensures competitive interest rates to lower the overall cost of ownership. -
Flexible repayment options :
Customers will benefit from a variety of repayment plans designed to suit their financial needs. -
Priority services :
Dedicated ICICI Bank representatives will be available at VinFast showrooms to provide on-site support and streamline the loan application process.
Empowering Dealers and Driving Growth
Beyond customer benefits, the partnership also strengthens VinFast’s dealer ecosystem by offering crucial inventory financing. This empowers dealers to maintain adequate stock of the new VF 6 and VF 7 models, supporting the company’s ambitious growth plans in the Indian market.
The collaboration leverages ICICI Bank's extensive pan-India branch network and digital platforms, allowing VinFast to reach both urban centers and emerging markets. According to Mr. Pham Sanh Chau, CEO of VinFast Asia, the partnership is a key step in "empowering our customers with flexible and efficient financing options" and "equipping our dealers with the resources they need to scale."
This strategic alliance highlights VinFast's commitment to establishing a strong, customer-focused presence in India, one of the world's fastest-growing EV markets. The announcement follows the recent inauguration of VinFast's EV assembly plant in Tamil Nadu, further solidifying its long-term growth strategy in the region.