Quick Take: Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture
Photo: VCG
Tencent Holdings Ltd. is setting up a joint venture with state-owned Chongqing Changan Automobile Co. Ltd., as the technology titan races into the booming autonomous-driving sector.
Dadi Tongtu Information Technology Co. Ltd., a unit of Tencent, will spend 102 million yuan ($16.2 million) for a 51 percent stake in the venture, while Changan will get the remaining 49 percent for 98 million yuan, according to a Changan statement on Thursday (link in Chinese).
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
RELATED
MOST POPULAR
- 1Update: China Demands Answers for Swedish Police’s ‘Brutal’ Treatment of Tourists
- 2Chinese Thesis Ghostwriting Scandal Reveals Huge Gray Market
- 3China Could Ban Exports of Products Crucial to U.S. Manufacturers, Former Finance Minister Says
- 4 State-Owned Firms to Build $6.5 Billion Petrochemical Refinery in Alberta
- 5Trump Slaps New Tariffs on $200 Billion of Chinese Goods
SPONSORED
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas