Tesla Registers Vietnam Entity to Target Southeast Asia's Largest EV Market

Tesla has registered a new local business entity, Tesla Motors Vietnam, preparing for an expansion into Southeast Asia's largest electric vehicle market. The company is expected to target affluent consumers initially by importing Model 3 and Model Y vehicles from its Shanghai production hub. The expansion targets a rapidly growing market where electric models reached nearly 40% of new car sales in 2025 and second-quarter 2026 sales surged 89% year-over-year. However, Tesla confronts strong competition from domestic manufacturer VinFast, which holds a 92% market share backed by an exclusive charging network of over 150,000 ports.