VinFast News & Analysis

Tesla (TSLA) Enters Vietnam EV Market Amid Local Competition

Tesla (TSLA) is preparing to enter Vietnam's electric vehicle market by registering a local entity called Tesla Motors Vietnam. Vietnam has become the largest EV market in Southeast Asia, with nearly 40% of new car sales being electric vehicles, as reported by the International Energy Agency. Local rival VinFast dominates the market with 92% share and has established a strong ecosystem for its EVs, including over 150,000 charging ports. This expansion into Vietnam is crucial for Tesla as it faces a highly competitive environment and must build distribution and service coverage.