Tencent Responds to Tesla: Future Business Cooperation

: PingWest product play reported on March 29, according to Tesla (TSLA) on the 28th submitted to the US Securities and Exchange Commission documents, Tencent has held a 5% stake in Tesla, becoming the fifth largest shareholder of Tesla. Tencent’s purchase of 5% shares is worth about US$1.778 billion, or about US$217.67 per share. Tencent acquired Tesla on March 17 targeted private placements and open market acquisitions. The price was far lower than Tesla's lowest market price of $261.20 on the 17th, with a discount of 16.67%.

Regarding why Tesla was invested, Tencent responded that Tesla CEO Mr. Musk was a model for entrepreneurs and Tesla was a global leader in new technologies such as electric vehicles, driverless vehicles, shared vehicles, and sustainable energy production. Tencent has also been promoting ecological win-win situations and hopes to contribute to the better world by encouraging internal innovation and capitalizing on emerging technology industries. In fact, as a technology company, Tencent has carried out a large number of layouts in the fields of internet builders and artificial intelligence in recent years. Ma Huateng, chairman and chief executive of Tencent Holdings Limited, once said in public that artificial intelligence has become a hot spot for investors around the world in the past two years. Tencent also attaches great importance to the development of this field. Artificial intelligence is expected to become the core competitiveness of the industry in the future. .

In the future cooperation with Tesla, Tencent said that at present, Tesla may be committed to the realization of the Model 3 car, solar roof, building a super battery factory No. 1. Historically, Tencent and the invested company have evolved some commercial-level cooperation in addition to pure equity relations. Tencent and Tesla have no specific cooperation plans at the moment, and may consider the development of the parties in due course.

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