Automotive Sep 16, 2020 09:02 AM (GMT+8) · EqualOcean
Chinese Automaker Evergrande announced on September 15 that it had obtained about HKD 4 billion in investment by placing new shares. The investor list includes some well-known names such as Tencent Holdings, Sequoia Capital, YF Capital and Didi Chuxing. In recent years, Internet giants such as Tencent and Alibaba have actively participated in the field of new energy vehicles. Tencent has invested in Tesla and NIO while Alibaba invested in newly-listed EV maker Xpeng Motors. For investors, new energy vehicle firms have considerable financial returns. If we take the above-mentioned Tencent as an example, in 2017 it acquired 816.75 million shares of Tesla at USD 217.67 per share and became the fifth-largest shareholder of the company. If calculated based on Tesla's highest share price this year, Tencent has made more than 10 times its profit in just three years.

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