NewsVoir
Gurugram (Haryana) [India], October 28: VinFast Auto India, a subsidiary of the global EV brand VinFast, has signed a Memorandum of Understanding (MoU) with YES BANK, India's sixth-largest private sector bank, to provide retail and inventory financing for its exclusive dealer network.
Under the dealer finance tie-up, YES BANK will extend financing to VinFast dealers on favorable terms. The retail finance agreement will also offer a wide range of customer benefits, including attractive interest rates, flexible repayment options, 100% on-road funding, exclusive offers, and priority servicesapplicable across VinFast's entire product portfolio. YES BANK representatives will be available at all VinFast showrooms to provide on-site support, making EV ownership more accessible and convenient for Indian consumers.
The collaboration enables VinFast to leverage YES BANK's extensive pan-India branch network and digital platforms to reach customers across both urban and emerging markets. 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.
The MoU was signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, along with Mr. Sumit Bali Country Head Retail Assets and Debt Management, YES BANK, and Mr. Amit Labroo Business Head Wheels and Rural Banking, at YES BANK.
Mr. Pham Sanh Chau, CEO of VinFast Asia, shared, "The shift to electric mobility succeeds when customers and dealers have the right tools and support. Our partnership with YES BANK is a step towards building that ecosystem, providing hassle free financing solutions that make it easier for dealers to manage inventory and for customers to access our EVs. By working together, we are ensuring a smoother ownership experience and making EV adoption more reassuring for our customers, while advancing India's path toward greener transportation."
Commenting on the collaboration, Mr. Sumit Bali, Country Head Retail Assets and Debt Management, YES BANK, said, "As EV adoption accelerates, access to financing will play a vital role in driving this transition. Our collaboration with VinFast will offer customers convenient credit solutions tailored to its premium EV lineup, reflecting the Bank's broader commitment to sustainability. Such partnerships also help us empower our customers to achieve their green mobility aspirations with ease."
VinFast recently launched its premium VF 6 and VF 7 models in India and this partnership highlights the company's ongoing efforts to establish a strong and customer-focused footprint in the country. The brand has also recently inaugurated its EV assembly plant in Tamil Nadu, marking a significant milestone in its long-term growth strategy.
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, is a pure-play electric vehicle ("EV") manufacturer with the mission of making EVs accessible to everyone. VinFast's product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses.
VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe, the Middle East and Asia.
Learn more at: vinfastauto.in.
YES BANK, a full-service commercial bank headquartered in Mumbai, offers a wide array of products, services, and digital solutions, catering to Retail, MSME, and Corporate clients. The Bank operates its Brokerage business through YES SECURITIES, asubsidiary of the Bank. The Bank has a pan-India presence including an International Banking Unit (IBU) at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank's website at www.yesbank.in.
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