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The region has emerged as one of the hottest EV markets in recent years and could offer Tesla a large customer base at a time when demand is slowing in the United States. "Southeast Asia will undoubtedly be a major place of growth over the coming years in battery storage and electric vehicle adoption," Rohan Patel, senior public policy and business development executive at Tesla, said in a post on X.

The Vietnamese manufacturer has started building a factory in Tamil Nadu and hopes to start production by mid-2025

China’s government is urging carmakers to expand overseas and EV-maker BYD is ramping up its export targets.

The Tesla competitor is expanding rapidly in Europe and Southeast Asia; now it is looking at a new export base south of the U.S. border.

China Auto Market: VW's two joint ventures in China with FAW and SAIC took a combined 14.2% share in sales terms in 2023, down from 14.8% in 2022, according to data from the China Passenger Car Association (CPCA). Sales of SAIC VW and FAW VW include brands of VW, Audi and Jetta.