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Tencent Emerges as Musk’s China Booster With 5% Tesla Stake
- Barclays sees tech giant helping Tesla access China market
- Musk refers to Tencent as both investor and adviser in tweet
Tencent Backs Elon Musk With 5% Stake in Tesla
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Tesla Inc. Chief Executive Officer Elon Musk just gained a massive and well-connected confidant to help him better crack China’s auto market: Tencent Holdings Ltd.
The Chinese internet giant isn’t just an investor, Musk said after his electric-car maker disclosed Tencent had bought a 5 percent stake in his company for $1.8 billion. He also referred to the owner of the WeChat and QQ messaging services as an adviser.