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March 22 - 10:03
208D
Chinese tech giants form $1.5 billion ride-sharing JV
Alibaba and Tencent are among investors in a new joint venture for the ride-sharing industry. They have come together with Chongqing Changan Automobile, a major car manufacturer in the company, to set up the $1.5 billion JV. Other participants include Suning’s investment unit, FAW and Dongfeng Motor. The JV will focus its plans on new energy vehicles.
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