VinFast India Joins Hands With Shriram Finance for Easy EV Financing

VinFast India on Tuesday inked a Memorandum of Understanding (MoU) with Shriram Finance Limited to expand access to electric vehicle (EV) financing, as the Vietnamese automaker looks to cement its presence in the Indian market.

As per the arrangement, buyers purchasing VinFast vehicles will be able to avail financing solutions offered by Shriram Finance, including funding of up to 100 per cent of the on-road price, along with flexible repayment structures and competitive interest rates across the product range, news agency PTI reported.

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The agreement was signed by Tapan Ghosh, Chief Executive Officer of VinFast India, and Nandagopal R., President and National Business Head at Shriram Green Finance.

The partnership also lets VinFast to tap into the lender’s extensive network spanning urban, semi-urban and rural markets.

Ghosh said India’s transition to electric mobility would depend not only on product offerings but also on the strength of the supporting ecosystem, adding that the partnership is aimed at improving financing accessibility for customers.

Nandagopal said the collaboration represents a step towards strengthening sustainable mobility solutions and reflects a shared objective of accelerating EV adoption in the country.

The development comes after VinFast’s recent entry into the electric multi-purpose vehicle segment in India with the launch of the VF MPV 7. The firm said the financing tie-up complements other initiatives such as assured resale and structured buyback programmes, which are designed to make EV ownership more accessible.

VinFast, a subsidiary of Vingroup JSC, operates as a dedicated EV manufacturer with a portfolio that includes electric SUVs, two-wheelers and buses.

Shriram Finance, one of India’s largest retail non-banking financial companies, with over 9 million customers, and has a network of more than 3,000 branches.