Baidu has led a $300 million USD investment in one of China’s biggest auto trading and marketing platforms, BitAuto, revealed the search giant on Monday. It’s the latest company to join Baidu’s growing auto investment portfolio.

Baidu is joined by several previous investors in BitAuto, including internet services giant Tencent and e-commerce company JD.com. The three companies each purchased $50 million USD worth of newly issued shares from BitAuto at $20.23 each. BitAuto listed on the NYSE in November 2010.

The new round of funding comes as China’s burgeoning tech autos market undergoes a fresh round of new strategic partnerships between ride-hailing services, online service platforms, and autonomous and electric car projects.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com