Tesla registers Vietnam subsidiary in Ho Chi Minh City with $3 million capital

Tesla has set up a subsidiary in Vietnam, according to ChainCatcher, marking the U.S. electric vehicle maker’s entry into one of Southeast Asia’s fastest-growing EV markets. The new entity is named Tesla Automobile Vietnam Company Limited and has been registered in Ho Chi Minh City. Its registered capital stands at 77.667 billion Vietnamese dong, equivalent to about $3 million. The move places Tesla in Vietnam as it expands its presence in the region’s electric vehicle market.