HDFC Bank and VinFast AutoIndia SignPact for Auto and Inventory Financingof Electric Vehicles
Udaipur : HDFC Bank, India’s leading private sector bankand VinFast Auto India have signed a Memorandum of Understanding (MoU) for auto and inventory financing for customers and exclusive dealers in India. VinFast Auto India is the Indian subsidiary of global electric vehicle leader VinFast, part of Vingroup - the largest private conglomerate in Vietnam.The MoU, VinFast’s first with a banking institution in India, aims to offer a seamless suite of credit solutions ahead of Vinfast’s launch in the country.
Speaking on the development, Mr. Arvind Vohra, Group Head – Retail Assets, Rural and SLI banking group, HDFC Bank said, “Financing will play a significant role in driving increased EV adoption. The MoU with VinFast is another step to accelerate the adoption to further this and will enable customers access VinFast’s well known product line through well laid out financing options. This is part of the Bank’s larger effort to support customers in meeting their aspirations in a convenient way.”
Mr. Pham Sanh Chau, CEO of VinFast Asia, shared: “This MoU marks a significant milestone in our efforts to make electric mobility more inclusive, convenient, and future-ready for Indian consumers. Partnering with a trusted banking institution like HDFC Bank ensures that we are not only delivering exceptional products and services, but also building the financial ecosystem necessary to support our customers and dealer partners at every step of the journey.”
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