HDFC bank has signed a Memorandum of expertise (MoU) with VinFast car india to provide auto and inventory financing solutions for clients and dealers of the Vietnamese electric powered car (EV) producer.
This marks VinFast's first tie-up with an indian bank as it gears as much as launch its operations inside the united states of america.
below the settlement, hdfc financial institution will provide customised financing options to make VinFast's electric vehicles more on hand to indian consumers, at the same time as additionally supplying working capital help for its provider network. The partnership will leverage the financial institution's sizable branch network and virtual platforms to attain customers in both metropolitan and rising markets.
The flow comes ahead of VinFast's deliberate debut of its VF 6 and VF 7 fashions in india, with the financing benefits extending to its complete product range. both agencies see the tie-up as a step in the direction of accelerating EV adoption in one of the global's fastest-developing electric mobility markets.
"Financing will play a great position in using multiplied EV adoption. The MoU with VinFast is any other step to boost up the adoption to further this and will permit customers get right of entry to VinFast's widely recognized product line through well laid out financing alternatives. this is part of the financial institution's larger effort to assist customers in meeting their aspirations in a handy way," stated Arvind Vohra, group Head, Retail property, Rural and SLI banking institution, hdfc bank.
Pham Sanh Chau, CEO of VinFast Asia, defined the settlement as "a widespread milestone" in making electric powered mobility extra inclusive and destiny-ready for indian customers. He stated, "This MoU marks a big milestone in our efforts to make electric mobility more inclusive, convenient, and future-ready for indian customers. Partnering with a trusted banking institution like hdfc financial institution guarantees that we aren't most effective handing over amazing products and services, however additionally constructing the economic atmosphere necessary to guide our customers and dealer companions at each step of the journey."
The MoU reinforces VinFast's push to set up a sturdy footprint in india and aligns with hdfc financial institution's method to support sustainable transportation. vehicle loans continue to be a primary driver for the bank's retail belongings, with its vehicle loan portfolio crossing Rs 1.48 lakh crore as of june 30, 2025.
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