. is reportedly seeking a loan of up to $200 million from Indian state-owned banks as it prepares to enter the Indian car market, although the inauguration of its
Tamil Nadu factoryhas been delayed to July 30, reports Bloomberg.
ETAuto earlier stated that Vietnamese electric vehicle maker is in discussions with lenders like Central Bank of India Ltd. and Union Bank of India Ltd. to secure funding for its initial $500 million investment plan in India, aiming to establish a presence in the competitive Asian market. The company plans to launch its VF6 and VF7 models soon, followed by the VF3 in 2026, while also expanding its global footprint with a new plant in Indonesia expected by October.
VinFast's India factory, located in Tamil Nadu, was initially scheduled to open on June 30. The company has now announced a revised inauguration date.
According to sources familiar with the matter told Bloomberg, VinFast is engaging with Indian lenders for the first time. The loan under discussion may be structured in rupees or as foreign currency through the external commercial borrowing route. The terms of the loan are still under discussion and subject to change.
The loan is part of VinFast's broader investment strategy in India. The company has earmarked $500 million for its initial foray into the country. VinFast is actively building its distribution network in India.
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