The country’s largest private car dealer announced late Tuesday that it shares with Chinese social media and game giant Tencent (TCEHY) to develop features for luxury cars, along with autonomous driving technology.
Tencent said in a statement that the companies would work together on mobile apps and other functions, such as multi-screen interaction, a sleek surface and intelligent speech, that will be accessible to drivers and passengers. Neither company stated how much money they were promising the partnership.
Last week, Geely said he would be with a research giant Baidu (BIDU) to build electric cars – the latest example of appliance manufacturers working with competitors and technical companies to build vehicles that help deal with climate emergencies.
Investors were encouraged by the news, putting Tencent stock up 3.7% in Hong Kong on Wednesday. Sections included Geely (GELYF) rose 5.6%, adding to the recent gains for the automaker and bringing the stock to a new high.
The Tencent partnership marks its third in a few weeks ago for Geely, which also owns Volvo.
Two days after announcing an agreement with Baidu, Geely signed a contract with him Apple (AAPL) Foxconn supplier to make cars for other manufacturers and consult about electric vehicles.
The shift in physical activity comes as competition for next-generation cars heats up in China, the world’s largest automotive market.
Tesla (TSLA) On Tuesday they began rolling out the Model Y crossover vehicles made in China. And Volkswagen (VLKAF) bringing Tesla in China with its own electric SUV.