FILE PHOTO: Guangzhou Automobile Group's logo is pictured at its booth during the Auto China 2016 auto show in Beijing, China, April 26, 2016. REUTERS/Kim Kyung-Hoon/File Photo
HONG KONG: China's Tencent Holdings and Guangzhou Automobile Group Company Ltd have agreed to collaborate on Internet-connected cars – a strategic pact that sent shares in Guangzhou Auto surging.
The development of self-driving cars and fast-changing technology have set in motion a flurry of alliances between internet giants and automakers. Earlier this year, Tencent bought 5% of US electric car maker Tesla Inc for US$1.78bil (RM7.46bil).
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