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China’s Tencent assaults Tesla by taking 5% of the shares

Automotive News

China’s Tencent Holdings has bought a 5% stake in Tesla, making it one of the major shareholders of electric car maker Elon Musk. Tencent has paid 1.8 billion dollars (about 1.657 billion euros at current exchange rate) to take the said share of 8.2 million shares, according to a statement sent to the SEC by the automaker.

The operation is part of Tesla’s search for funds to launch its latest model, the Tesla Model 3. Something that has already enjoyed the approval of the Market, since the actions of the automobile have revalued 26% in what goes of year.
The Asian company seeks to increase its presence in a growing sector in the United States: that of mobility. Established in 1998 by Ma Huateng, it has become one of the leaders in the technology sector in Asia and is known for developing WeChat, the Whatsapp of the Eastern Giant.

Tencent already has in its portfolio with investments in mobility in China. Among them, NextEV, a startup based in Shanghai and dedicated to the electric car. He has also contributed to found two more companies in the country.

CINCO DÍAS – 28-03-2017 17:46

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