TL;DR
VinFast Auto India partnered with Bank of Baroda for ₹200 crore dealer financing to expand its EV network and accelerate market growth.
VinFast Auto India, the Indian subsidiary of the global EV brand, has formalized a Memorandum of Understanding (MoU) with Bank of Baroda, a prominent public sector bank in India. This collaboration aims to provide comprehensive dealer invoice financing solutions for VinFast's exclusive dealer network, offering a seamless suite of credit solutions. The partnership is designed to accelerate network expansion and bolster VinFast's growth strategy within the dynamic Indian market.
Under the terms of the dealer finance tie-up, Bank of Baroda will extend INR 200 crore in financing to VinFast dealers on flexible terms. This strategic alliance will enable VinFast to leverage Bank of Baroda's extensive pan-India branch network and digital platforms, facilitating greater reach to customers across both urban and emerging markets. The initiative aligns with VinFast's broader objective of accelerating the adoption of sustainable transportation solutions in India, which is recognized as one of the fastest-growing EV markets globally.
