Deals
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
This article is for subscribers only.
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.