HDFC Bank and VinFast Auto India have signed a Memorandum of Understanding (MoU) for auto and inventory financing for customers and exclusive dealers in India.
VinFast Auto India is the Indian subsidiary of global electric vehicle leader VinFast, part of Vingroup – the largest private conglomerate in Vietnam.
The MoU, VinFast’s first with a banking institution in India, aims to offer a seamless suite of credit solutions ahead of Vinfast’s launch in the country.
The tie-up will leverage the strengths of both brands, aiming at creating a holistic financing options for customers and dealers while facilitating a convenient EV car buying experience.
Under the agreement, customers will enjoy tailored financing solutions making EV ownership more accessible and convenient for a wider range of Indian consumers.
The collaboration allows VinFast to leverage HDFC 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.
As VinFast gears up for the launch of its VF 6 and VF 7 models, unique benefits designed under this MoU will be extended to the entire range of VinFast offerings.
The MoU was signed by Pham Shan Chau, CEO, VinFast Asia and Akhilesh Kumar Roy – Business Head – Auto Loans, Inventory Finance and Two-Wheeler Loans, HDFC Bank.
Arvind Vohra, Group Head – Retail Assets, Rural and SLI banking group, HDFC Bank said, “financing will play a significant role in driving increased EV adoption… This is part of the Bank’s larger effort to support customers in meeting their aspirations in a convenient way.”
Pham Sanh Chau, CEO of VinFast Asia, said, “this MoU marks a significant milestone in our efforts to make electric mobility more inclusive, convenient, and future-ready for Indian consumers.
“Partnering with a trusted banking institution like HDFC Bank ensures that we are not only delivering exceptional products and services, but also building the financial ecosystem necessary to support our customers and dealer partners at every step of the journey.”
Auto Loans have been one of the significant contributors to HDFC Bank’s Retail Assets segment.
As of June 30, 2025, the Bank’s Auto Loan book stood over Rs 1.48 trillion.
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.