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Tesla deal boosts Chinese presence in US auto tech - TL;DR CNBC

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: TSLA700-HKBABABIDUFGM

Keywords: technologytesla incelon muskautosinvestment strategyenergybusiness news

Source: https://www.cnbc.com/2017/03/28/messaging-app-parent-tencent-takes-stake-in-tesla.html


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