Chinese companies determine to combine on internet-connected cars
A swift of vehicles versed with Baidu’s unconstrained pushing technologies control highway contrast in Wuzhen, Zhejiang Province, China in an undated photo. PHOTO: REUTERS
China’s Tencent Holdings and Guangzhou Automobile Group Company have concluded to combine on internet-connected cars – a vital agreement that sent shares in Guangzhou Auto surging.
The growth of self-driving cars and fast-changing record have set in suit a flurry of alliances between internet giants and automakers. Earlier this year, Tencent bought 5 per cent of US electric automobile builder Tesla for $1.78 billion.
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Tencent and Guangzhou Auto will work together to rise Internet-connected cars and synthetic intelligence-aided driving, as good as try investment in areas such as auto-related e-commerce, supposed new appetite cars and automobile insurance, a automaker pronounced in a filing late on Monday.
Guangzhou Auto pronounced it directed to daub Tencent’s imagination in mobile payments, amicable networking, large information and synthetic intelligence. Tencent will also yield cloud services and other technical support.
Hong Kong-listed shares of Guangzhou Auto were trade 5 percent aloft on Tuesday morning. Tencent gained scarcely 1 percent to a record high.
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Tencent has been a relations latecomer among China’s largest tech firms to excavate into a automobile sector. E-commerce hulk Alibaba has a corner try with Shanghai-based automobile builder SAIC Motor Corp while Baidu has been building self-driving cars.
Article source: https://tribune.com.pk/story/1510527/chinese-companies-agree-collaborate-internet-connected-cars/