{"id":306341,"date":"2017-03-30T07:30:54","date_gmt":"2017-03-30T07:30:54","guid":{"rendered":"http:\/\/citifmonline.com\/?p=306341"},"modified":"2017-03-30T07:30:54","modified_gmt":"2017-03-30T07:30:54","slug":"chinas-tencent-buys-5-stake-in-tesla","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=306341","title":{"rendered":"China’s Tencent buys 5% stake in Tesla"},"content":{"rendered":"

Chinese tech giant Tencent has spent $1.78bn (\u00a31.4bn) on buying a 5% stake in electric carmaker Tesla.<\/p>\n

Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing.<\/p>\n

Tesla said the stake was passive, meaning Tencent would not get a say in how the US firm was run.<\/p>\n

Shares in Tesla rose 2.3% in early trading following the announcement.<\/p>\n

\"tencent\"<\/a><\/p>\n

Tesla’s range of electric cars has included the Model S and the Roadster, which was billed as the world’s first electric sports car.<\/p>\n

The company also specialises in battery storage, and, through its SolarCity subsidiary, residential solar panels.<\/p>\n

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.<\/p>\n

Tencent, one of Asia’s largest technology firms, has backed several electric vehicle companies in the past.<\/p>\n

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.<\/p>\n

Tencent is now the fifth-largest shareholder in Tesla behind chief executive Elon Musk and investment companies Fidelity, Baillie Gifford and T Rowe Price.<\/p>\n

Mr Musk remains the largest shareholder, with a stake of about 21% as of the end of 2016.<\/p>\n

–<\/p>\n

Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"

Chinese tech giant Tencent has spent $1.78bn (\u00a31.4bn) on buying a 5% stake in electric carmaker Tesla. Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing. Tesla said the stake was passive, meaning Tencent would not get a say in […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[5697,5698,5699],"class_list":["post-306341","post","type-post","status-publish","format-standard","hentry","category-technology","tag-car-makers","tag-tencent-company","tag-tesla"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/306341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=306341"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/306341\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=306341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=306341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=306341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}