Chinese Tech Giant Tencent Buys 5 Percent of Tesla

By Jon LeSage Tesla has gained significant financial backing by way of a 5-percent investment by Chinese tech giant Tencent Holdings.
The company’s $1.78 billion stake in the electric automaker, or about 8.2 million shares makes it Tesla’s fifth-largest shareholder. The first four largest shareholders consist of CEO Elon Musk and investment companies Fidelity, Baillie Gifford, and T. Rowe Price.
Along with needing more cash flow for its Model 3 launch later this year, Tesla can tap into these resources for expanding into important overseas markets like China.
In a U.S. regulatory filing from early March, Tesla reported making more than $1 billion in revenue in

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