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Tencent pays US$1.78b for 5% stake in Tesla

Tesla gets a deep-pocketed ally as it prepares to launch its mass-market Model 3

Published Wed, Mar 29, 2017 · 09:50 PM

Detroit

CHINA's Tencent Holdings Ltd has bought a 5 per cent stake in US electric car maker Tesla Inc for US$1.78 billion, the latest investment by a Chinese Internet company in the potentially lucrative market for self-driving vehicles and related services.

Tencent's investment, revealed in a US regulatory filing, pr…