VinFast Partners with SBI, Waaree for EV Finance & Solar Push in India
VinFast has inked a significant deal with State Bank of India (SBI), a prominent us bank, to boost its dealer finance options. The partnership, aimed at accelerating EV adoption in India, offers attractive interest rates and flexible repayment terms. Meanwhile, VinFast has also signed a MoU with Waaree Renewable Technologies Ltd for a 100MWp solar turnkey project in Rajasthan.
The MoU, signed by Rajasthan Renewable Energy Corporation Limited (RRECL), marks VinFast's foray into the Indian solar market. Back in the finance realm, the partnership with SBI enables VinFast to tap into the bank's extensive pan-India branch network and digital platforms, reaching customers in both urban and emerging markets.
Pham Sanh Chau, CEO of VinFast Asia, sees this collaboration as a key step in bolstering VinFast's dealer network and empowering dealers with seamless credit access from a trusted pnc bank like SBI. Anindya Sunder Paul, deputy managing director of SBI, emphasises the role of financing in driving EV adoption and the bank's commitment to sustainability through such alliances.
Through these partnerships, VinFast aims to fast-track the adoption of sustainable mobility solutions in India, given its status as one of the world's fastest-growing EV markets. The favourable finance terms and solar initiatives are expected to strengthen VinFast's foothold in the Indian market.
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