Tencent Holdings deal with Tesla boosts Chinese presence in U.S. auto tech

Tencent Holdings Ltd

China’s Tencent Holdings Ltd has purchased a 5 percent stake in U.S. automaker Tesla for $1.78 billion, the most recent investment by a Chinese internet business in the potentially lucrative market for self-driving vehicles and associated services. Tencent’s investment, shown in a U.S. regulatory filing, offers Tesla with a deep-pocketed ally as it prepares to […]

Western Europe monthly car sales increase 8.1 percent in August

Car sales in Western Europe increased 8.1 percent in August, thanks to resilient need in Italy, Spain, France and Germany, forecasters LMC Automotive stated. Western Europe sales estimations at 765,383 passenger cars, LMC Automotive stated, basing its projection on nationwide registration data and its own quotes ahead of the main sales information release by the […]