China's Tencent buys 5% stake in Tesla

  |   World News

Chinese tech giant Tencent has spent $1.78bn (£1.4bn) on buying a 5% stake in electric carmaker Tesla.

The firm has been raising capital ahead of the launch of its mass-market Model 3 sedan, and gained about $1.2bn through a bond and share sale earlier in March.

It was an early investor in NextEV, a Shanghai-based start-up which since has rebranded itself as Nio and has offices in San Jose, California, close to Tesla's base.

To read full article - https://goo.gl/EEfzcl

📲 Get India News on Whatsapp 💬