A driver demonstrates how to connect SAIC's Roewe RX5 sports-utility vehicle with his mobile phone using Alibaba's YunOS operating system on 6 July 2016. Photo: SCMP
SAIC Motor, an early adopter of the smart car, sets up US$1 billion fund to invest in internet-linked vehicles with Alibaba
- SAIC Motor would invest 5.4 billion yuan to create the 7.2 billion yuan fund with Shanghai Zhangjiang Hi-tech Park Development, according to an exchange filing
- Hengxu Capital will separately contribute less than 0.1 per cent of the fund’s capital to invest in smart electric vehicle technologies
A driver demonstrates how to connect SAIC's Roewe RX5 sports-utility vehicle with his mobile phone using Alibaba's YunOS operating system on 6 July 2016. Photo: SCMP
