American electric vehicle maker Tesla has established a unit in Vietnam. This is stated in a registration filing, according to Reuters. This was reported by Qazaqyia.kz citing Reuters.
According to the agency, the company's unit in Vietnam has completed official registration. The registration filing contains information about Tesla's new legal entity.
The move may be seen as part of Tesla's plans to expand its operations in the Southeast Asian region. However, Reuters did not specify which projects the company intends to implement in Vietnam.
Vietnam is one of the countries with a rapidly developing electric vehicle market. Local manufacturers such as VinFast are actively operating in the market. Tesla's entry into this market could intensify competition.
Reuters did not provide additional details about the direction of the Vietnamese unit's activities. No official comments from the company have been released either.