The country’s largest private carmaker announced it on Tuesday afternoon which is partnering with Chinese social media and the gaming giant Tencent (TCEHY) develop functions for smart cars, along with autonomous driving technology.
Tencent said in a statement that companies would work together on mobile applications and other features, such as multiscreen interaction, smart surfaces and smart speech, which will be accessible to drivers and passengers. Neither company said how much money it was spending on the partnership.
Last week, Geely said she would team up with the search giant Baidu (TO START) build electric cars: the latest example of carmakers working with rivals and tech companies to build vehicles to help combat the climate crisis.
The news encouraged investors and on Wednesday sent Tencent shares up 3.7% more to Hong Kong. Participations in Geely (COS) rose 5.6%, adding to recent gains for the automaker and bringing shares to a new record.
The Tencent partnership is the third in recent weeks for Geely, which also owns Volvo.
Two days after announcing a deal with Baidu, Geely signed a deal with Baidu apple (AAPL) supplier Foxconn will manufacture cars for other automakers and consult on electric vehicles.
The influx of corporate activity occurs when competition for next-generation cars heats up in China, the world’s largest auto market.
Tesla (TSLA) on Tuesday began rolling out its China-made crossover vehicles. I Volkswagen (VLKAF) adopts Tesla in China with its own electric SUV.