VinFast Auto India and Bank of Baroda Sign MoU to Accelerate EV Dealer Network Expansion
In a significant move to strengthen its footprint in the Indian electric vehicle (EV) market, VinFast Auto India has signed a Memorandum of Understanding (MoU) with Bank of Baroda. This strategic partnership aims to provide exclusive dealer invoice financing solutions, facilitating smoother inventory management and network expansion for VinFast’s growing dealership base across the country.
Strategic Financial Support for Dealerships
Under the terms of this collaboration, Bank of Baroda will extend financing of INR 200 Crore to VinFast dealers. These funds will be offered on flexible terms, designed to empower dealers with the capital required to maintain adequate inventory levels and serve customers efficiently.
By leveraging Bank of Baroda’s vast pan-India branch network and digital platforms, VinFast intends to penetrate both urban and emerging markets. This improved access to credit is expected to play a crucial role in VinFast’s strategy to accelerate the adoption of sustainable transportation solutions in India.
Leadership on the Collaboration
The MoU was formally signed at the Baroda Corporate Centre in Mumbai by Mr. Pham Sanh Chau, CEO of VinFast Asia, alongside Bank of Baroda executives Mr. Madhur Kumar (Chief General Manager – MSME Banking, Co-Lending, and Supply Chain Finance) and Mr. D Ananda Kumar (General Manager, Supply Chain Finance).
High-level executives from both organizations highlighted the importance of financial infrastructure in the EV transition:
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 Bank of Baroda is a step towards building that ecosystem, providing hassle-free financing solutions that make it easier for dealers to manage inventory. 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.”
Mr. Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending, and Supply Chain Finance, Bank of Baroda, said:
“As EV adoption accelerates, access to financing will play a vital role in driving this transition. Our collaboration with VinFast will offer dealers 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”.
Strengthening the EV Ecosystem in India
This partnership marks another milestone for VinFast, which has established a strong presence in India over the past year. The company has focused on a long-term development strategy that includes a premium product portfolio and a comprehensive ecosystem covering manufacturing, charging infrastructure, and after-sales services.
Aligning with India’s status as one of the fastest-growing EV markets globally, this financial tie-up ensures a smoother ownership experience for customers and reinforces the company’s commitment to green mobility.
Frequently Asked Questions (FAQs)
1. What is the purpose of the partnership between VinFast India and Bank of Baroda? The partnership aims to provide dealer invoice financing solutions to VinFast’s exclusive dealer network. This helps dealers manage inventory effectively and supports the expansion of VinFast’s sales network in India.
2. How much financing is being allocated under this agreement? Bank of Baroda will extend INR 200 Crore in finance to VinFast dealers under flexible terms.
3. Who signed the MoU on behalf of VinFast and Bank of Baroda? The MoU was signed by Mr. Pham Sanh Chau, CEO of VinFast Asia, and Bank of Baroda officials Mr. Madhur Kumar (Chief General Manager) and Mr. D Ananda Kumar (General Manager).
4. How does this partnership benefit VinFast customers? By ensuring dealers have better access to inventory financing, the partnership creates a smoother ownership experience and makes EV adoption more reassuring and accessible for customers across urban and emerging markets.
5. When and where was the agreement signed? The agreement was signed on February 5, 2026, at the Baroda Corporate Centre in Mumbai.
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