VinFast India, the Indian subsidiary of Vietnamese electric vehicle manufacturer VinFast, has signed a Memorandum of Understanding (MoU) with Shriram Finance Limited (SFL), one of India's largest retail non-banking financial companies (NBFCs), to expand consumer access to EV financing.
Under the partnership, VinFast customers will have access to Shriram Finance's financing options, including up to 100% on-road funding, competitive interest rates and flexible repayment terms across VinFast's product range. The companies said the tie-up will also allow VinFast to draw on Shriram Finance's nationwide network and customer base across urban, rural and semi-urban markets.
Shriram Finance serves more than 9 million customers through over 3,000 branches across India, according to the company. It has been expanding its green finance portfolio, with a focus on EV financing and sustainable mobility solutions.
The MoU was signed by Tapan Ghosh, CEO of VinFast India, and Nandagopal R., President & National Business Head of Shriram Green Finance.
Ghosh said India's shift to electric mobility would depend on the strength of the supporting ecosystem as much as on the products themselves, and that the partnership reflects VinFast's focus on improving financing accessibility for customers.
Nandagopal said the collaboration marks a step toward strengthening sustainable mobility solutions in India and reflects a shared goal of accelerating EV adoption.
The announcement follows VinFast's recent launch of the VF MPV 7, its first entry into the electric MPV segment in India. The company said the financing partnership adds to other initiatives, including assured resale and structured buyback programmes, aimed at making EV ownership more accessible for Indian consumers.
VinFast is a subsidiary of Vingroup JSC and describes itself as a pure-play EV manufacturer with a product lineup spanning electric SUVs, e-scooters and e-buses. The company is expanding its distribution and manufacturing footprint globally, with a focus on North America, Europe, the Middle East and Asia.
Shriram Finance Limited offers financing across commercial and passenger vehicles, MSME lending, EV financing and solar financing, and has been expanding its green finance offerings to support India's transition to cleaner mobility.