Tencent joins Tesla: Chinese Internet company now holds five percent of Musks' E-car dealerships

Is this the breakthrough for Tesla in the Chinese market? Internetcenter Tencent is entering a great style.

Once it was the Swabian premium manufacturer Daimler, who bought himself from the E-Autopioniert from the Silicon Valley. Now the Chinese Internet group Tencent is on the train. In a statement to the US Securities and Exchange Commission (SEC), the Chinese released a five-percent share of nearly $ 1.8 billion (€ 1.7 billion) on Tuesday.

Tesla Model 3: With the fresh money from China a smooth start of the serial production of the "Model 3" is to be secured. (Photo: Tesla)

This means that the conglomerate, which operates China's largest online network WeChat, has become one of the largest shareholders. Tesla's dazzling CEO, Elon Musk, who is one of the largest shareholders, has recently issued new bonds and shares. This opportunity was used by Tencent.
With the fresh money of the investors, a smooth start of the serial production of the middle class "Model 3" is to be secured. The car is Tesla's eagerly awaited first electric car for the mass market. The success of the project depends on whether the company can create the leap from the luxury niche.

Investors place great trust in the promises made by Tech-Milliardär Musk - the Tesla share has increased 26 percent since the beginning of the year. However, the company has not always been able to implement the ambitious plans of its boss in the past on time and comprehensively. Tesla has, however, reached its goal of starting the mass production of "Model 3" in September. (Dpa / ree)