Indonesian banks, VinFast ink MOU to make EV ownership more accessible

They will develop attractive loan programs and develop faster credit approval processes.

Six Indonesian banks have signed a memorandum of understanding (MOU) with VinFast, a Vietnamese automotive company with a focus on electric vehicles (EVs), to streamline credit assessment and approval procedures for car loans.

The financial institutions involved include PT Adira Dinamika Multi Finance Tbk, PT Bank Woori Saudara Indonesia, PT CIMB Niaga Auto Finance, PT Mandiri Tunas Finance, PT Maybank Indonesia Finance, and PT Sunindo Kookmin Best Finance.

Under the MOU signed on 16 November 2025, VinFast and the banks will work on joint communication and marketing initiatives.

They aim to make EV ownership more accessible to Indonesian consumers by developing attractive loan programs that offer competitive interest rates, low down payment options, and simplified, fast-track credit approval processes, the press release said.

Their partnership is also expected to help streamline credit assessment and approval procedures, shorten processing times, and deliver a smoother, more efficient experience for customers.