Tencent, Guangzhou Auto agree to collaborate on connected cars

HONG KONG (Reuters) – Chinese internet giant Tencent Holdings and Guangzhou Automobile Group Company Ltd said on Monday they had agreed to collaborate on connected cars.

The two companies will also explore investment in areas such as auto-related e-commerce, new energy cars and auto insurance, Guangzhou Automobile said in a filing.

Guangzhou Automobile Group said it would aim to tap Tencent’s expertise in mobile payments, social networking, big data and artificial intelligence.

Reporting by Sijia Jiang; Editing by Edwina Gibbs

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