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Tesla Inc. (NASDAQ:TSLA) is expanding into Vietnam, establishing a local subsidiary authorized to import, distribute and sell vehicles as competition intensifies in neighboring China.
Tesla Motors Vietnam was registered in Ho Chi Minh City on Sept. 11 with roughly $3 million in charter capital, Reuters reported Monday. Tesla has not yet said when vehicle sales will begin.
Tesla's share of China's battery-electric vehicle market fell to 6.6% in the second quarter from more than 15% in 2020, according to Reuters.
Its China retail sales fell 12.4% year over year in August to 50,047 vehicles, while China's battery-electric vehicle sales edged 0.8% higher.
#tesla #sales #reuters
Tesla Inc. (NASDAQ:TSLA) is expanding into Vietnam, establishing a local subsidiary authorized to import, distribute and sell vehicles as competition intensifies in neighboring China.
Tesla Motors Vietnam was registered in Ho Chi Minh City on Sept. 11 with roughly $3 million in charter capital, Reuters reported Monday. Tesla has not yet said when vehicle sales will begin.
Tesla's share of China's battery-electric vehicle market fell to 6.6% in the second quarter from more than 15% in 2020, according to Reuters.
Its China retail sales fell 12.4% year over year in August to 50,047 vehicles, while China's battery-electric vehicle sales edged 0.8% higher.
#tesla #sales #reuters
3 hours ago
