Access to financing for accelerated EV adoption, says Gaur
VinFast Auto India, a subsidiary of global EV brand VinFast (NASDAQ: VFS) of Vietnam, has signed a Memorandum of Understanding (MoU) with ICICI Bank to provide auto and inventory financing for its exclusive dealer network.
The partnership aims to offer a seamless suite of credit solutions for the company’s recently launched VF 6 and VF 7 models.
Under the agreement, VinFast’s customers will have access to customised financing solutions, including 100% on-road funding, attractive interest rates, flexible repayment options and priority services applicable across the company’s full product range https://www.bseindia.com/.
Dedicated ICICI Bank 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 https://www.nseindia.com/.
The collaboration allows VinFast to leverage ICICI Bank’s extensive pan-India branch network and digital platforms to reach customers across urban and emerging markets alike. 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, and Munish Gaur, Product Head – Vehicles, ICICI Bank http://commerce.gov.in.
Pham Sanh Chau, CEO of VinFast Asia, shared, “Driving home an electric vehicle should be an exciting and effortless journey, and accessible financing plays a vital role in making that possible. By joining hands with ICICI Bank, we are empowering our customers with flexible and efficient financing options, while also equipping our dealers with the resources they need to scale. Our goal is to create value not just at the point of purchase but throughout the entire ownership journey, while advancing a new era of mobility that is clean, convenient, and inclusive.”
Munish Gaur, Product Head – Vehicles, ICICI Bank, said on 17 Sept, “As EV adoption accelerates, access to financing will be key to driving this transition. Our collaboration with VinFast will provide customers with convenient credit options for its premium EV lineup and reflects the Bank’s broader commitment to helping customers achieve their green aspirations with ease http://rbi.org.in.”
As VinFast launches 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. The company has also recently inaugurated its EV assembly plant in Tamil Nadu, marking a significant milestone in its long-term growth strategy https://www.makeinindia.com/home/.
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. Fiinews.com
