VinFast India partners with Shriram Finance to expand EV financing access

VinFast India has signed a Memorandum of Understanding (MoU) with Shriram Finance Limited to expand electric vehicle (EV) financing options for Indian customers. The agreement aims to make EV ownership more accessible by offering up to 100% on-road funding, competitive interest rates, and flexible repayment terms across VinFast's product range.

Key Highlights

• VinFast India signs MoU with Shriram Finance to expand EV financing options.
• Customers can access up to 100 percent on-road funding and flexible repayment terms.
• Shriram Finance serves over 9 million customers through more than 3,000 branches across India.
• Partnership supports VinFast's recent launch of the VF MPV 7 electric vehicle in India.

Partnership Details and Objectives

VinFast India is the local subsidiary of Vietnamese EV manufacturer VinFast. Shriram Finance Limited is one of India's largest retail non-banking financial companies (NBFCs). The partnership will allow VinFast customers to access Shriram Finance's financing products, which cover both urban and rural markets.

The MoU was signed by Tapan Ghosh, CEO of VinFast India, and Nandagopal R., President & National Business Head of Shriram Green Finance. Ghosh stated that India's transition to electric mobility depends on the strength of its supporting ecosystem. He emphasized that the partnership reflects VinFast's commitment to improving financing accessibility for customers.

Nandagopal R. said the collaboration represents a step toward strengthening sustainable mobility solutions in India. He noted that both companies share the goal of accelerating EV adoption nationwide.

Market Reach and Financing Scope

Shriram Finance serves more than 9 million customers through over 3,000 branches across India. The company has been expanding its green finance portfolio, focusing on EV financing and sustainable mobility solutions. The partnership will enable VinFast to leverage Shriram Finance's extensive network and customer base, reaching urban, rural, and semi-urban markets.

VinFast customers will benefit from tailored financing options, including up to 100% on-road funding. The agreement also offers competitive interest rates and flexible repayment terms, making EV ownership more attainable for a wider range of consumers.

VinFast's Expansion and Initiatives

The announcement follows VinFast's recent launch of the VF MPV 7, its first electric multi-purpose vehicle (MPV) in India. The company has introduced several initiatives to make EV ownership easier, such as assured resale and structured buyback programs.

VinFast is a subsidiary of Vingroup JSC and describes itself as a pure-play EV manufacturer. Its product lineup includes electric SUVs, e-scooters, and e-buses. The company is expanding its distribution and manufacturing presence in North America, Europe, the Middle East, and Asia.

Shriram Finance's Green Finance Strategy

Shriram Finance Limited provides financing for commercial and passenger vehicles, MSME lending, EV financing, and solar financing. The company has been increasing its green finance offerings to support India's shift to cleaner mobility solutions.

The partnership with VinFast India aligns with Shriram Finance's strategy to promote sustainable transportation and expand its green finance portfolio. Both companies aim to accelerate the adoption of electric vehicles across India by improving access to financing and supporting infrastructure.

Also Read: Routematic integrates Green SM VinFast electric fleet for corporate mobility in India

CarBike 360 Says

The collaboration between VinFast India and Shriram Finance marks a significant step toward making electric mobility more accessible to Indian consumers. By offering flexible and affordable financing solutions, the partnership is expected to accelerate EV adoption while strengthening VinFast’s foothold in the market. As demand for sustainable mobility grows, such alliances will play a crucial role in shaping India’s electric future.