First Indian Bank to tie up with the Vietnamese company’s local subsidiary
Ahmedabad, August 11, 2025: HDFC Bank, India’s leading private sector 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.
This relationship 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 Mr. Pham Shan Chau, CEO, VinFast Asia and Mr. Akhilesh Kumar Roy – Business Head – Auto Loans, Inventory Finance and Two-Wheeler Loans, HDFC Bank. Present on the occasion were several senior executives from VinFast and HDFC Bank.
Speaking on the development, Mr. 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. The MoU with VinFast is another step to accelerate the adoption to further this and will enable customers access VinFast’s well known product line through well laid out financing options. This is part of the Bank’s larger effort to support customers in meeting their aspirations in a convenient way.”
Mr. Pham Sanh Chau, CEO of VinFast Asia, shared: “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.”
This MoU highlights the Vinfast’s ongoing efforts to establish a strong and customer-focused footprint in India.
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 lakh crores.
