HDFC Bank Partners with VinFast Auto India to Accelerate EV Adoption

By siliconindia  |  Monday, 11 August 2025, 02:17:09 PM IST

HDFC Bank Partners with VinFast Auto India to Accelerate EV Adoption
  • HDFC Bank to offer auto and inventory financing for VinFast customers and dealers.
  • VF 7 SUV arriving in Aug 2025, VF 6 in Sept 2025, with pre-bookings already open.
  • Rs 1.48 lakh crore auto loan book, expanding through digital approvals and strategic alliances.
In a strategic move to boost electric vehicle (EV) adoption in India, HDFC Bank has signed a memorandum of understanding (MoU) with VinFast Auto India to offer auto and inventory financing solutions for customers and dealers. The tie-up marks the Vietnamese EV maker’s first partnership with a bank in the country.
VinFast Auto India, a subsidiary of Vingroup Vietnam’s largest private conglomerate will provide tailored financing options under the MoU to make EV ownership more accessible. The benefits will apply across all VinFast models, including the upcoming VF 6 and VF 7 electric SUVs. Leveraging HDFC Bank’s extensive branch network and digital platforms, the partnership aims to tap into both urban and emerging markets.
“Financing will play a significant role in driving increased EV adoption. The MoU with VinFast is another step to accelerate this process and will enable customers to access VinFast’s 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”, said Arvind Vohra, Group Head – Retail Assets, Rural and SLI Banking Group, HDFC Bank.
VinFast is set to enter the Indian market in August 2025 with the launch of its VF 7 electric SUV, followed by the VF 6 in September. Pre-bookings for both models began in July, with sales and deliveries to start after the inauguration of its manufacturing plant in Thoothukudi, Tamil Nadu. As part of its market rollout, VinFast is also establishing dealerships and display units across multiple cities.
“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”, said Pham Sanh Chau, CEO, VinFast Asia.
As of June 30, 2025, HDFC Bank’s auto loan book stood at Rs 1.48 lakh crore, underlining the segment’s growing importance within its retail asset portfolio. The bank has been expanding its auto finance footprint through digitisation and customer-centric product innovations. Notably, in August 2025, it also became the preferred financier for Stellantis brands in India, including Jeep, Maserati, and Citroën, offering 30-minute digital loan approvals via its Xpress Car Loan platform with zero paperwork.

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