Tesla deal boosts Chinese presence in US auto tech
Publishing timestamp: 2017-03-28 22:50:33
Summary
Tencent Holdings buys 5% stake in Tesla for $1.78 billion, providing Tesla with a deep-pocketed ally as it prepares to launch its mass-market Model 3. The investment could help Tesla navigate the Chinese market and potentially collaborate on self-driving technologies. This move expands Tencent's presence in the emerging investment sector of self-driving electric cars.
Sentiment: POSITIVE
Tickers: TSLA, 700-HK, BABA, BIDU, F, GM,
Keywords: technology, tesla inc, elon musk, autos, investment strategy, energy, business news,
Source: https://www.cnbc.com/2017/03/28/messaging-app-parent-tencent-takes-stake-in-tesla.html