TL;DR
VinFast India has partnered with Yes Bank to offer favorable financing solutions for its EV dealers and customers, aiming to accelerate EV adoption across India.
VinFast Auto India, the Indian subsidiary of the Vietnamese electric vehicle (EV) manufacturer, has signed a Memorandum of Understanding (MOU) with Yes Bank to provide comprehensive retail and inventory financing solutions. This partnership aims to support VinFast's exclusive dealer network and make its EV portfolio more accessible to Indian consumers.
Under the dealer finance agreement, Yes Bank will extend financing to VinFast dealers on favorable terms, facilitating inventory management. The retail finance agreement will offer a range of customer benefits, including attractive interest rates, flexible repayment options, 100% on-road funding, and priority services, applicable across all VinFast products. This collaboration leverages Yes Bank's extensive pan-India branch network and digital platforms to reach customers in both urban and emerging markets.
Pham Sanh Chau, CEO of VinFast Asia, stated that the partnership is crucial for building an ecosystem that provides hassle-free financing, making it easier for dealers to manage inventory and for customers to access VinFast EVs. This initiative aligns with VinFast's broader goal of accelerating the adoption of sustainable transportation solutions in India, one of the fastest-growing EV markets globally. VinFast recently launched its premium VF 6 and VF 7 models in India and inaugurated its EV assembly plant in Tamil Nadu.
