VinFast Auto India signed an MoU with Bank of Baroda to offer dealer invoice financing
VinFast Auto India has partnered with Bank of Baroda through a Memorandum of Understanding (MoU) to deliver dealer invoice financing solutions, supporting business expansion and reinforcing its growth strategy in India.
MUMBAI — VinFast Auto India has signed a memorandum of understanding with Bank of Baroda to provide dealer invoice financing for its exclusive dealer network, strengthening its growth strategy as it expands in India’s fast-developing electric vehicle market.
Under the agreement, Bank of Baroda will extend financing of up to INR 200 crore (about US$24 million) to VinFast dealers on flexible terms, supporting inventory management and improving operational efficiency. The partnership also allows VinFast to tap the bank’s nationwide network and digital platforms to broaden its reach across urban and emerging markets, supporting the adoption of electric mobility in India.
The MoU was signed in Mumbai by Pham Sanh Chau, CEO of VinFast Asia, and senior representatives of Bank of Baroda.
Pham Sanh Chau, CEO of VinFast Asia, said: “The shift to electric mobility succeeds when customers and dealers have the right tools and support. Our partnership with Bank of Baroda is a step towards building that ecosystem, providing hassle-free financing solutions that make it easier for dealers to manage inventory. By working together, we are ensuring a smoother ownership experience and making EV adoption more reassuring for our customers, while advancing India’s path toward greener transportation.”
Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending and Supply Chain Finance, Bank of Baroda, said: “As EV adoption accelerates, access to financing will play a vital role in driving this transition. Our collaboration with VinFast will offer dealers convenient credit solutions tailored to its premium EV lineup, reflecting the Bank’s broader commitment to sustainability. Such partnerships also help us empower our customers to achieve their green mobility aspirations with ease.”
After just one year of presence, VinFast has steadily made its mark in India’s electric vehicle market through a long-term development strategy, a premium product portfolio and the establishment of a comprehensive electric vehicle ecosystem covering manufacturing, retail, charging infrastructure and after-sales services. With a firm commitment to innovation, sustainable development and a user-centric approach, VinFast continues to contribute to the transition towards green mobility and the long-term growth of India’s automotive industry. — VNS
