VinFast India partners Bank of Baroda for INR 200 Cr dealer financing

VinFast Auto India has signed a Memorandum of Understanding with Bank of Baroda to provide dealer invoice financing for its exclusive dealer network in India.

Under the agreement, Bank of Baroda will extend up to INR 200 crore in financing to VinFast dealers, offering flexible credit terms to support inventory funding and network expansion. The arrangement is aimed at easing working capital requirements for dealers as VinFast continues to scale its retail presence in the country.

The partnership allows VinFast to leverage Bank of Baroda’s nationwide branch network and digital banking platforms, enabling wider reach across both metro cities and emerging markets. VinFast said the tie-up aligns with its broader strategy to support EV adoption in India by strengthening its dealer ecosystem.

The MoU was signed by Pham Sanh Chau, CEO of VinFast Asia, along with Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending and Supply Chain Finance, and D Ananda Kumar, General Manager – Supply Chain Finance, Bank of Baroda, at the bank’s corporate centre in Mumbai.

VinFast entered the Indian market a year ago and has since been working on building an end-to-end EV ecosystem spanning manufacturing, retail, charging infrastructure and after-sales support. The company positions India as a key long-term market in its global electric mobility plans.

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