Alibaba, Tencent and Baidu expanded the battle into electric car business

Alibaba Group Holding Limited, Tencent Holdings Limited and Baidu, Inc. have embarked on a battle for the electric car market. The Chinese tech giants have expanded the battlefields in the vehicle industry where Alibaba last week invested into electric car startup Xiaopeng Motors about 10 percent stake.

Guangzhou Xiaopeng Motors also known as Xpeng is a headquartered in Guangzhou and Alibaba has confirmed that they have invested in the company. The two companies did not disclose the amount of investment, but the investment gave Alibaba about 10 percent stake in Xiaopeng Motors.

Tinuku Alibaba, Tencent and Baidu expanded the battle into electric car business

"As the beginning of clean energy, investment in Xiaopeng Motors is in line with Alibaba's strategic focus in the automotive sector," said a spokesman for Alibaba.

Other Chinese technology giants are Baidu and Tencent also collectively have invested in the electric vehicle business. Tencent acquired a 5 percent stake in Tesla for $ 1.78 billion earlier this year and has invested in Nio, while Baidu has supported WM Motor Technology.

Xpeng Identity X SUV introduced in China in October offers a range of smart and internet-based functions, including automatic parking, low speed roaming, voice interaction and remote control. The car can accelerate from zero to 100 kilometers per hour in 5.8 seconds and has a 300km battery range.

"The design, mileage, quality and autonomous driving experience of version 2.0 will be a major step forward, which will surpass the EV in the market at a price above 400,000 yuan," said co-founder and chairman of Guangzhou Xiaopeng Motors, He Xiaopeng.

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