Kamath says India’s transition to electric mobility is gathering significant momentum
VinFast Auto India, a subsidiary of the Vietnamese-origin global EV brand VinFast, has signed a Memorandum of Understanding (MoU) with Tata Capital, India’s third-largest non-banking financial company (NBFC), to provide auto and inventory financing for its exclusive dealer network.
The partnership aims to provide a comprehensive suite of financing solutions to VinFast India’s dealer network, supporting the company’s growth ambitions in one of the world’s largest and fastest-growing automotive markets.
Under the partnership, VinFast’s dealer partners will have access to financing solutions tailored to support working capital requirements, inventory management and network expansion.
The collaboration brings together VinFast’s expanding dealer network and Tata Capital’s extensive financing capabilities. A leading NBFC in India, Tata Capital provides a broad range of financing and credit solutions that complement traditional banking services. The company serves approximately 7.7 million customers through a comprehensive product portfolio and a nationwide network of nearly 1,500 branches.
By leveraging Tata Capital’s broad branch network, digital platforms, and financing expertise, VinFast aims to further strengthen its dealer ecosystem and support its continued expansion across the country. The partnership also aligns with the company’s broader goal of accelerating the adoption of sustainable transportation solutions in one of the world’s fastest-growing EV markets.
The MoU was signed by Tapan Ghosh, CEO of VinFast India, along with Narendra Kamath, COO – SME Finance, Tata Capital, and Soumitra Das, Business Head – Supply Chain Finance at Tata Capital, VinFast said on 19 June.
Ghosh shared, “VinFast India is pleased to partner with Tata Capital, one of the most trusted financial services providers in the country, in a collaboration that reflects our shared commitment to advancing electric mobility in India. This partnership will enable us to offer comprehensive financing solutions for our dealer network, thereby supporting greater accessibility, operational ease and long-term growth for the brand. We are confident that their strong pan-India presence and financial expertise will play an important role in enhancing the ownership journey for our customers and partners.”
Commenting on the collaboration, Narendra Kamath, COO – SME Finance, Tata Capital, said, “India’s transition to electric mobility is gathering significant momentum, creating a growing need for innovative and scalable financing solutions. Through our partnership with VinFast, we aim to empower dealers with tailored financing support that enables business growth and operational efficiency. Together, we are committed to strengthening the EV ecosystem and accelerating the adoption of sustainable mobility across the country.”
Expanding access to financial solutions for both customers and dealer partners is part of VinFast’s broader strategy to build a comprehensive electric vehicle ecosystem in India. Alongside a growing EV portfolio that includes the VF 6, VF 7, and VF MPV 7, the company is introducing initiatives aimed at making EV ownership more accessible and convenient, including assured resale value programs. Most recently, VinFast extended its free charging program across the V-Green charging network until 31 March 2029. Together, these efforts support broader EV adoption and help advance India’s transition to sustainable mobility.
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, the Middle East and Asia.
Tata Capital Limited, a holistic financial services provider, caters to the diverse needs of retail, housing, SME, and corporate customers with a pan-India network of 1500+ branches. Its range of offerings includes Consumer Finance, Housing Finance, Commercial Finance, Cleantech Finance, Microfinance, Debt Syndication, Private Equity, and Credit Cards. Fiinews.com
