HANOI, (Reuters) – U.S. electric vehicle maker Tesla has established a subsidiary in Vietnam, according to a newly published business registration filing, marking its formal entry into one of Southeast Asia’s fastest-growing EV markets.
The new entity, Tesla Motors Vietnam Limited Liability Company, was registered in Ho Chi Minh City with charter capital of 77.667 billion dong ($3 million), according to the filing reviewed by Reuters.
Tesla didn’t immediately respond to a Reuters request for comment.
The new company, established on September 11, is authorised to engage in wholesale and retail sales of automobiles, vehicle parts, machinery and equipment, as well as related import, export and distribution activities.
The registration lists David Jon Feinstein, a U.S. 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.
($1 = 25,940 dong)
Reporting by Khanh Vu; Editing by David Stanway
