Tencent has a Plan for the Internet of Cars with the Newly Acquired Stake in NavInfo

State-owned China Survey has been authorized to sell 11.8% stake in mapping company NavInfo to Tencent for RMB1.173 billion ($189). Now Tencent is the second largest shareholder in the company.

Mark Ren, COO of Tencent, said at the press conference yesterday that the Chinese social giant will explore opportunities in the Internet of cars with NavInfo after the deal.

NavInfo will focus on map services pre-installed in cars while Tencent will work on software for car drivers to adopt, the two companies said.

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