Tesla registers Vietnam entity as VinFast holds 92 per cent of Southeast Asia's largest EV market
By Eve
Tesla has registered Tesla Motors Vietnam this month, according to business records, marking its entry into a market where EVs accounted for almost 40 per cent of new car sales in 2025 and sales more than doubled year on year, per International Energy Agency data released in May. Nasdaq listed VinFast currently commands 92 per cent of the domestic EV market, supported by parent conglomerate Vingroup's charging and after sales infrastructure, according to HSC research. Vingroup generated 221.97 trillion dong, equivalent to 8.52 billion US dollars, in revenue in the first half of 2026.
Why it matters
Tesla's formal entry into Vietnam signals intensifying competition in a market where a single incumbent controls charging infrastructure and customer touchpoints, potentially reshaping procurement dynamics for public and commercial charging networks. VinFast's integrated ecosystem and 92 per cent market share present a high barrier for new charge point operators seeking partnerships or site access in the region's fastest growing EV market.
Source
- Original title
- “Tesla makes a move on Southeast Asia's largest EV market. A homegrown giant awaits”
- Published
- 22 September 2026
- Updated
- 23 September 2026
- Also covered by
- Google News
In this story
- Topic
- Electric Vehicles
- Place
- Southeast Asia
- Tag
- Tesla
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