China’s Automakers Team Up With Tencent, Alibaba To Prepare $1.45B For Ride-Sharing

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Chinese state-owned automakers and the country’s internet firms including Tencent and Alibaba Group have jointly launched a private equity company last week, planning to invest RMB9.76 billion (US$1.45 billion) in a ride-sharing company that is featured with new energy vehicles (NEVs).

China Money Network

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