Tesla Registers $3M Vietnam Unit to Enter EV Market

Tesla has established Tesla Motors Vietnam Limited Liability Company in Ho Chi Minh City, marking its formal entry into Vietnam’s rapidly growing electric-vehicle market. Registered in September with charter capital of about VND77.7 billion ($3 million), the subsidiary is authorized to wholesale and retail vehicles, parts and machinery, and conduct related import, export and distribution activities. David Jon Feinstein is chairman, Isabel Ching Fan is general director and Nguyen Manh Hung is assistant general director and a legal representative. The filing does not specify when commercial operations will begin or which Tesla models will be offered. Tesla will face established and expanding competition from domestic EV leader VinFast and Chinese automaker BYD, which is increasing its model lineup and dealership network in Vietnam.