Chinese tech giant Tencent takes 5% stake in Tesla
Tuesday, March 28, 2017, 5:59 PM
Tesla Inc said that Chinese tech giant Tencent Holdings Ltd has invested $1.78 billion in the electric car-maker for a 5% passive stake. Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing. Tencent now owns more than 8 million shares in the company as of March 24.