VinFast has signed a cooperation agreement with 12 banks and financial institutions: Vietcombank, Vietinbank, BIDV, MB, Techcombank, VPBank, HDBank, Sacombank, TPBank, MSB, Lotte Finance, and Shinhan Finance. These institutions are currently promoting green finance for sustainable development.
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Representatives of VinFast and partner banks and financial institutions at the signing ceremony. Photo: Vingroup |
Representatives of VinFast and partner banks and financial institutions at the signing ceremony. Photo: Vingroup
Under this agreement, VinFast and its partners will offer loan packages and preferential financial solutions with flexible procedures. Hanoi residents purchasing VinFast electric cars can borrow up to 70-80% of the vehicle's value with a maximum loan term of 8 years (depending on each bank's policy). VinFast and its partners will subsidize 3% of the annual interest rate compared to the standard rate for the first 3 years.
For users who purchase vehicles for business registration on the Xanh SM Platform, the subsidy increases to 4% annually for the first 3 years. Drivers will receive a fixed revenue share of 90% for 3 years from GSM, the operating company of Xanh SM taxi. According to VinFast, this incentive is offered in conjunction with existing promotions, such as a 4% discount on the listed price and a 100 million VND discount when trading in a gasoline car for an electric vehicle.
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Mr. Le Khac Hiep, Vice Chairman of Vingroup, at the signing ceremony. Photo: Vingroup |
Mr. Le Khac Hiep, Vice Chairman of Vingroup, at the signing ceremony. Photo: Vingroup
For individuals residing in Hanoi who purchase VinFast electric motorbikes, the company and its partners are offering a 0-dong down payment option. When purchasing vehicles for business operations on the Xanh SM Platform, VinFast offers a 10% discount on the vehicle price, and the remaining 90% can be paid in installments over 3 years with a guarantee from GSM. Under this policy, users don't need any initial capital and can receive the vehicle immediately with no upfront cost.
If purchasing an electric motorbike for personal use, Hanoi residents need to make a 10% down payment. VinFast will support 10%, and the remaining 80% can be paid in installments over a maximum of 3 years. From July 24 to October 24, buyers residing in Hanoi will receive a 100% exemption from registration fees. These incentives are expected to motivate Hanoi residents to switch from traditional gasoline and diesel vehicles to VinFast electric vehicles.
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Mr. Le Viet Duc, Director of Retail Banking at Vietinbank, representing financial institutions partnering with VinFast to promote green transition in the capital, speaking at the signing ceremony. Photo: Vingroup |
Mr. Le Viet Duc, Director of Retail Banking at Vietinbank, representing financial institutions partnering with VinFast to promote green transition in the capital, speaking at the signing ceremony. Photo: Vingroup
Mr. Le Viet Duc, Director of Retail Banking at Vietinbank, stated that the development strategies of banks and credit institutions are now clearly shaped by ESG (environmental, social, and governance) standards.
"We prioritize financing projects and business plans that have a positive impact on the environment and the community. Cooperating with Vingroup in the green transition campaign is a commitment to sustainable development and affirms our leading role in building a green economy," he said. "Working with Vingroup in the transition from gasoline to electric vehicles will open up many breakthrough opportunities, contributing to the nation's journey."
Mr. Le Khac Hiep, Vice Chairman of Vingroup, stated that the green transition requires the joint effort of the whole society and is not just a matter for one single business.
"The response and cooperation of partners and companies in Vingroup's green ecosystem demonstrate the strategic vision and unity of the business community with the common goal of the country," he said. "The strong determination of the government, the support and consensus from the people, and the contributions of businesses will help Vietnam soon achieve its committed Net Zero target."
In addition to financial solutions, starting July 29, VinFast and its partners will organize a series of events in Hanoi, Ho Chi Minh City, and other provinces and cities to support users in transitioning from gasoline to electric vehicles. This program will also be implemented at authorized VinFast dealerships nationwide.
Quang Anh
