BEIJING: China’s auto information website operator Bitauto Holdings Limited said JD.com Incorporation and Tencent Holdings Limited would invest about $1.3 billion in the company.
China’s e-commerce company JD.com and Tencent, best known for its communications app WeChat, will also invest a total of $250 million in Bitauto unit YiXin Capital Limited.
JD.com and Tencent will hold 25 per cent and 3.3 per cent of Bitauto’s outstanding shares respectively after the deal closes in the first half of 2015. They will hold 17.7 per cent and 26.6 per cent of YiXin Capital respectively.
Bitauto said the three companies will work together to provide enhanced online automotive transaction services to car buyers across China.
