American electric vehicle maker Tesla has set up a subsidiary in Vietnam, marking a potential commercial presence in one of Southeast Asia’s fast-growing EV markets.
Tesla Motors Vietnam Limited Liability Company was registered in Ho Chi Minh City on September 12 with a charter capital of VND77.7 billion ($3 million), according to a filing on Vietnam’s National Business Registration Portal.
The company is headquartered at Me Linh Point Tower in downtown Ho Chi Minh City.
The Vietnamese entity has registered main business lines, including the wholesale of automobiles and other motor vehicles, including the right to export, import and conduct wholesale distribution. Other registered activities include the wholesale and retail of automobile parts and accessories, machinery and other goods.
The filing does not specify when the company plans to begin commercial operations or which models it intends to offer.
Tesla Motors Vietnam has three legal representatives: David Jon Feinstein, Isabel Ching Fan and Nguyen Manh Hung.
Feinstein, a US national, is chairman of Tesla Motors Vietnam. Fan, also a US national, serves as general director; while Nguyen Manh Hung serves as assistant to the general director.
Tesla’s establishment of a local entity comes as Vietnam’s EV market expands rapidly, led by domestic automaker VinFast.
VinFast has recently announced that it delivered 20,161 electric vehicles of various models to customers in Vietnam in August 2026, bringing its year-to-date sales to 154,073 vehicles.
Since September 2024, VinFast has maintained its position as Vietnam’s leading automaker for 24 consecutive months, with its market share continuing to expand.
Chinese automaker BYD is also stepping up its expansion in Vietnam. The company plans to introduce at least four new models across multiple segments and expand its dealership network to more than 40 locations nationwide in 2026, BYD Vietnam representatives said at the company’s 2026 distributor conference in Hanoi.
The expansion follows BYD’s sale of more than 5,000 vehicles in less than two years since entering the Vietnamese market. The company also plans to add distributors and expand customer-service activities this year.
Other Chinese automakers include Omoda & Jaecoo, Wuling EV Vietnam.
