Electric vehicle manufacturer signs agreement with private bank to provide auto financing for VF 6 and VF 7 models through dealer network.
17 Sep 2025 | 3563 Views | By Angitha Suresh
VinFast Auto India signed a memorandum of understanding with ICICI Bank on September 17, 2025, to provide auto and inventory financing for the electric vehicle manufacturer's dealer network. The agreement was signed in Gurugram by Pham Sanh Chau, CEO of VinFast Asia, and Munish Gaur, Product Head for Vehicles at ...
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VinFast Auto India signed a memorandum of understanding with ICICI Bank on September 17, 2025, to provide auto and inventory financing for the electric vehicle manufacturer's dealer network. The agreement was signed in Gurugram by Pham Sanh Chau, CEO of VinFast Asia, and Munish Gaur, Product Head for Vehicles at ICICI Bank.
The partnership will offer financing solutions for VinFast's VF 6 and VF 7 models, which the company recently launched in the Indian market. Under the agreement, ICICI Bank will provide dedicated representatives at VinFast showrooms to assist customers with financing applications and processes.
Customers will have access to financing options including 100% on-road funding, flexible repayment terms, and priority services across VinFast's product range. The collaboration aims to make electric vehicle ownership more accessible by leveraging ICICI Bank's branch network and digital platforms to reach customers in both urban and emerging markets.
The financing partnership supports VinFast's expansion strategy in India, one of the world's fastest-growing electric vehicle markets. The Vietnamese company has established an assembly plant in Tamil Nadu as part of its operations in the country.
Pham Sanh Chau stated that accessible financing plays a vital role in electric vehicle adoption and that the partnership would provide customers with flexible options while supporting dealer network growth.
Munish Gaur noted that the collaboration reflects ICICI Bank's commitment to supporting customers' transition to electric vehicles.
VinFast, a subsidiary of Vietnamese conglomerate Vingroup JSC and listed on NASDAQ as VFS, manufactures electric SUVs, e-scooters, and e-buses.
The company is expanding its global distribution network with focus on North America, Europe, and Asia. ICICI Bank, one of India's leading private sector banks, reported total assets of ₹21,23,839 crore as of June 30, 2025.