Tesla established a subsidiary in Vietnam, entering one of Southeast Asia's most rapidly expanding electric vehicle markets. The new entity, Tesla Motors Vietnam LLC, registered in Ho Chi Minh City on September 12. It has a charter capital of approximately $3 million. Filings with Vietnam's National Business Registration Portal confirm these details.
Its registered activities include the import, export, wholesale, and retail of automobiles and parts. Tesla now competes with local automaker VinFast and brands like BYD. Vietnam's electric vehicle market sees increasing demand.