![\"tencent\"](\"http:\/\/citifmonline.com\/wp-content\/uploads\/2017\/03\/Tencent.jpg\")
<\/a><\/p>\nTesla’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":[],"categories":[106],"tags":[5697,5698,5699],"yoast_head":"\n
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