Tesla has established a new subsidiary in Vietnam, marking the US electric vehicle (EV) maker’s formal entry into one of Southeast Asia’s fastest-growing EV markets, Reuters reported.
The new entity, Tesla Motors Vietnam LLC, was registered in Ho Chi Minh City with charter capital of 77.667 billion dong (US$3 million), according to a newly published business registration filing reviewed by Reuters.
Established on Sept 11, the company is authorised to conduct wholesale and retail sales of automobiles, vehicle parts, machinery and equipment, as well as related import, export and distribution activities.
The registration signals a more formal commercial footing for Tesla in Vietnam as competition intensifies across Southeast Asia’s EV market.
The filing names David Jon Feinstein, a US national with an Austin, Texas address, as chairman of the company.
Isabel Ching Fan is listed as general director, while Nguyen Manh Hung serves as assistant to the general director.
Tesla did not immediately respond to a Reuters request for comment.
