Here It Is: Tencent, NavInfo to Bring European Mapping Giant to China
(Beijing) — A Chinese group that includes internet giant Tencent Holdings Ltd. will buy a combined 10% of European mapping specialist Here to bring its navigation services to China and challenge internet rivals Baidu and Alibaba.
Tencent is making the move as it plays catch-up with its internet peers in the broader realm of high-tech self-driving cars and related navigation services. Baidu Inc. is already heavily invested in the sector through several partnerships with domestic car makers and operates one of China’s most popular mapping services. Alibaba Group Holding Ltd. has similar partnerships and owns the popular AutoNavi mapping service.
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