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Chinese start-up Mobike gains $600 million in biggest financing round to date

June 16, 2017 By Cate Cadell BEIJING (Reuters) – Chinese bike-sharing start-up Mobike said it has raised $600 million in a financing round led by Tencent Holdings Ltd, its biggest financing round to date as it seeks to expand aggressively. With the latest injection the firm, which has operations in around 100 Chinese cities, has raised over $900 million since October. It has also expanded to Singapore, and recently launched a pilot service for 1,000 bikes in the UK, starting in the cities of Manchester and Salford. “We will accelerate…

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Tesla deal boosts Chinese presence in U.S. auto tech

March 28, 2017 By Paul Lienert DETROIT (Reuters) – China’s Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. Tencent’s investment, revealed in a U.S. regulatory filing, provides Tesla with an additional cash cushion as it prepares to launch its mass-market Model 3. Tesla’s shares were up 2.9 percent at $277.03 in midday trading on Tuesday, making it rival Ford Motor…

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China’s Tencent takes 5 percent stake in electric-car maker Tesla

March 28, 2017 (Reuters) – Tesla Inc , the California-based electric carmaker, said Chinese tech giant Tencent Holdings Ltd acquired a 5 percent stake in the U.S. company for $1.78 billion. The purchase, revealed in a U.S. regulatory filing, gives Shenzhen-based Tencent a growing presence in the rapidly expanding future mobility sector, with investments in U.S. and Chinese startup companies that provide ride sharing services and are developing self-driving electric vehicles. Tencent’s investment also provides Tesla with an additional cash cushion as it prepares to boost production volume and launch…

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