Tesla appears to be preparing for another expansion in Southeast Asia, registering a new subsidiary in Vietnam.
According to a newly published business registration filing, Tesla Motors Vietnam Limited Liability Company was officially registered in Ho Chi Minh City on September 11. The company was established with charter capital of 77.667 billion dong, or approximately US$3 million. (via Reuters)
The license gives Tesla a fairly broad scope of operations, including the wholesale and retail sale of vehicles and parts, along with machinery and equipment. It also covers import, export and distribution activities.
David Jon Feinstein, Tesla’s Global Senior Director of Trade & Markets Finance, is listed as chairman of the new company. Isabel Ching Fan, Tesla’s Senior Regional Director for Hong Kong, Macau, the Philippines and Southeast Asia, is named General Director, while Nguyen Manh Hung is listed as her assistant.
While the filing doesn’t guarantee Tesla will begin selling cars in Vietnam in the near future, establishing a local entity is the first step the company takes before entering a new market. Tesla has yet to add Vietnam to its website or announce plans for stores, Service Centres or Superchargers.
If Tesla does move forward, it will be entering one of the fastest-growing EV markets in the world where sales have more than doubled in 2025, with EVs approaching 40% of new vehicle sales.
Tesla would also be taking on a particularly strong local competitor. While VinFast has struggled to gain any sort of market share in North America, the Vietnam-based automaker delivered 175,099 EVs locally last year and was estimated to control nearly the entire EV market.
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