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
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

Topic |   Future of transport
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
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
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