NEW DELHI — VinFast India, a subsidiary of Vietnamese electric vehicle (EV) maker VinFast in India, has signed a memorandum of understanding (MoU) on strategic cooperation with Shriram Finance Limited (SFL) to expand financing solutions for customers, thereby promoting EV ownership and usage in one of the world’s largest automotive markets.

The company said the partnership with SFL, one of India’s biggest retail non-banking financial companies, will make it easier for customers to access EV financing packages, amid rising demand for the transition to green mobility in India.

Under the agreement, prospective customers of VinFast will benefit from SFL’s tailored financing solutions, including up to 100 per cent on-road funding, attractive interest rates and flexible repayment options across VinFast’s product portfolio.

The collaboration will also enable VinFast to leverage SFL’s extensive pan-India presence, deep expertise in vehicle financing, and strong customer reach across urban, rural, and semi-urban markets.

SFL currently serves over nine million customers through a nationwide network of over 3,000 branches, offering credit solutions across commercial vehicles, passenger vehicles, small- and medium-sized enterprises, electric mobility, and EV and solar energy ecosystems.

According to Tapan Ghosh, CEO of VinFast India, India’s transition to electric mobility will be shaped not just by strong products, but by the strength of the ecosystem that supports them, in which access to finance plays a pivotal role.

Meanwhile, Nandagopal R., President and National Business Head of Shriram Green Finance of SFL, said the partnership with VinFast marks an important step towards strengthening sustainable mobility solutions in India, and reflects a shared vision of the two sides to accelerate EV adoption and support the development of a stronger green mobility ecosystem across the country.

As VinFast continues to strengthen its footprint in India, this partnership marks another important step in the company’s efforts to build a robust EV ecosystem that supports India’s transition towards sustainable mobility.

As a subsidiary of Vingroup, VinFast is a pure-play EV manufacturer with a portfolio that includes electric SUVs, e-scooters and electric buses. The firm is expanding its distribution network, dealerships and manufacturing capacity across key markets, including North America, Europe, the Middle East and Asia. — VNA/BIZHUB