Tesla (TSLA.US) establishes subsidiary in Vietnam to enter Southeast Asia's fastest-growing electric vehicle market

According to Golden Ten Data APP, a newly released corporate registration document shows that American electric vehicle manufacturer Tesla (TSLA.US) has established a subsidiary in Vietnam, marking its official entry into one of Southeast Asia's fastest-growing electric vehicle markets.

The document shows that the new entity, named Tesla Motors Vietnam Limited Liability Company, is registered in Ho Chi Minh City with a registered capital of 7.7667 billion VND (approximately $3 million). The new company was established on September 11 and is approved to conduct wholesale and retail business of automobiles, vehicle parts, and mechanical equipment, as well as related import, export, and distribution activities. The registration document lists three legal representatives: David Jon Feinstein (American citizen) as Chairman, Isabel Ching Fan (American citizen) as General Manager, and Nguyen Manh Hung (Vietnamese citizen) as Deputy General Manager.

It is reported that the electrification of automotive markets in multiple Southeast Asian countries is accelerating. According to a previous automotive market report released by PwC, Vietnam’s automotive market sales will grow 20.3% year-on-year in 2025, ranking first among the six ASEAN countries (Malaysia, Indonesia, Thailand, Vietnam, the Philippines, and Singapore).

The report points out that the core driver of Vietnam's automotive sales growth comes from its domestic electric vehicle manufacturer VinFast (VFS.US). In 2025, VinFast contributes about 88,000 incremental vehicles to Vietnam’s automotive market, entering the top five brands by sales in the six ASEAN countries. Unlike Thailand and Indonesia, which rely on the Japanese traditional internal combustion engine vehicle model, Vietnam’s growth is driven by local electric vehicle companies, charging infrastructure, and the related ecosystem.

PwC believes that although Vietnam has not yet replaced Thailand and Indonesia’s positions in the ASEAN automotive supply chain (both countries’ production and export volumes still far exceed Vietnam’s), it has become an important “new variable” in the ASEAN automobile market, especially in the electric vehicle transformation stage.