Tesla registered Tesla Motors Vietnam Limited Liability Company in Ho Chi Minh City on September 11, establishing its first legal presence in Vietnam and laying groundwork for a potential commercial expansion. The entity has roughly VND 77.7 billion, or about $3 million, in charter capital and is authorized to wholesale and retail automobiles and parts, as well as import, export and distribution; manufacturing is excluded. Vietnam became Southeast Asia’s largest EV market in 2025, when sales more than doubled and EVs reached nearly 40% of new-car sales. Sales grew another 89% year over year in the second quarter of 2026, according to Counterpoint Research. Tesla would face VinFast, which holds roughly 92% of Vietnam’s EV market, has remained the country’s top-selling automaker for 24 consecutive months and operates a proprietary network of more than 150,000 charging ports. Analysts expect Tesla to initially focus on the Model 3 and Model Y and premium buyers, but say pricing, local adaptation and infrastructure access will determine whether it can expand beyond that niche. Tesla has not announced an entry timeline or commented on the registration, while VinFast has not responded.