China’s Tencent takes 5% stake in Tesla
WASHINGTON: China’s giant Tencent Holdings has taken a 5% stake in the Tesla electric car company as it moves to ramp up production, according to document filed with the US Securities and Exchange Commission (SEC). Tencent paid about $1.8 billion for the small share of Elon Musk’s company. The Chinese technology company runs WeChat, the messaging service, as well as many mobile game platforms. Tesla, meanwhile, is planning to launch a mid-priced version of it’s all-electric car this year.