VinFast–CBI MoU Boosts EV Financing in India
The Memorandum of Understanding (MoU) was officially signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, and Mr. Vivek Kumar, General Manager – Retail Assets Department, Central Bank of India.
Under this agreement, customers will gain access to customized financing options such as competitive interest rates, flexible repayment plans, zero processing charges, exclusive offers, and priority services—applicable to the full range of VinFast products. To ensure convenience, dedicated Central Bank of India representatives will be stationed at all VinFast showrooms, providing on-site assistance to make EV ownership simpler and more accessible for Indian consumers.
By leveraging the Central Bank of India’s extensive network of 4,552 branches and over 21,000 touchpoints nationwide, VinFast will expand its reach across both major cities and emerging markets. This collaboration aligns with the automaker’s mission to accelerate India’s transition to sustainable mobility—particularly as the country establishes itself as one of the world’s fastest-growing EV markets.
The agreement reflects VinFast’s commitment to simplifying electric mobility through affordable financing and seamless customer support. With this step, more Indian consumers will be able to experience VinFast’s electric vehicles at a time when EV adoption is rapidly gaining momentum across the nation.
The MoU was signed in the presence of Mr. Vivek Wahi, Mr. M.V. Murali Krishna, and Mr. Mahendra Dohare, Executive Directors of the Central Bank of India.
Commenting on the partnership, Mr. Pham Sanh Chau said:
“Our collaboration with the Central Bank of India, one of the nation’s largest and most trusted nationalized banks, is a significant step in building a strong foundation for VinFast’s growth in India. Central Bank of India’s unmatched reach and credibility, combined with our premium electric vehicle portfolio, will make VinFast vehicles more accessible to customers across urban and rural markets. This partnership will not only offer convenient and competitive financing solutions, but also extend the brand’s presence to a broader audience, enabling a seamless and holistic EV ownership journey.”
Adding further, Shri Vivek Wahi, Executive Director, Central Bank of India, stated:
“As India marches towards the Net Zero Emission vision, clean energy and innovative finance will be one of the driving forces. Our alliance with VinFast reinforces our commitment to environmental-friendly clean energy initiatives, leading to the growth of eco-friendly electric cars. The Bank is expanding rapidly in the cleaner energy segment with a green portfolio of Rs. 4,200 crore as of June 2025. As of August 2025, we have mobilized over Rs. 295 crore under our Green Deposit segment and plan to extend Rs. 1,600 crore in green finance during FY 2025–26. This alliance takes us closer to realizing the dream of a cleaner India.”
As VinFast prepares to launch its VF 6 and VF 7 models, this partnership underlines its efforts to build a customer-centric presence in India. The company also recently inaugurated its EV assembly facility in Tamil Nadu, marking a milestone in its long-term expansion strategy.
About VinFast
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC—one of Vietnam’s largest conglomerates—is a dedicated electric vehicle manufacturer with the mission of making EVs accessible to all. Its portfolio includes a wide selection of electric SUVs, e-scooters, and e-buses. Currently, VinFast is focused on scaling its manufacturing capabilities and expanding its dealership and distribution network across North America, Europe, and Asia.
About Central Bank of India
Established in 1911, Central Bank of India became the first commercial bank wholly owned and operated by Indians, earning recognition as a truly "Swadeshi Bank." As of June 30, 2025, the Bank manages 4,552 branches, 4,115 ATMs, and over 12,300 BC Points, with strong operations in rural and semi-urban regions. The Bank’s total business reached Rs. 704,485 crore, including a deposit base of Rs. 4,28,890 crore, advances of Rs. 2,75,595 crore, and a CASA ratio of 46.88%.