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Tesla Accelerates into Vietnam EV Market
14 Sep
Summary
- Tesla has formally entered Vietnam with a new subsidiary.
- The company's charter capital is 77.667 billion dong ($3 million).
- The new entity will focus on wholesale and retail sales of automobiles.
U.S. electric vehicle manufacturer Tesla has formally established its presence in Vietnam, a rapidly growing market for electric mobility in Southeast Asia. The company registered a new subsidiary, Tesla Motors Vietnam Limited Liability Company, in Ho Chi Minh City on September 11. This strategic move positions Tesla to capitalize on Vietnam's burgeoning EV sector.
The newly formed entity boasts a charter capital of 77.667 billion Vietnamese dong, equivalent to approximately $3 million. Its authorized business activities encompass the wholesale and retail sales of automobiles, along with vehicle parts, machinery, and related equipment. The company will also handle import, export, and distribution services within Vietnam.
