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Chinese Investment Firm Takes 5% Stake in Tesla

Tesla Autopilot car hits police officer, adding new concerns about autonomous vehicles.

by on Mar.28, 2017

Tesla CEO Elon Musk said the company needed an infusion of cash, and it got it, from Tencent, which now holds 5% of Tesla stock.

One of China’s largest technology investment firms has taken a 5% stake in the U.S. battery-electric vehicle manufacturer Tesla.

In a public filing, Tencent Holdings said it has purchased nearly 8.2 million shares of Tesla stock. The automaker’s shares have been on a roller-coaster ride in recent months as the company struggled to fund the development of its critical Model 3 battery sedan.

Financial News!

The automaker’s shares surged on news of the Chinese investment. (more…)