Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD

(0700)
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

BMW, Tencent to open computing center in China for self-driving cars

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/18/2019 | 10:33pm EDT
The logo of BMW carmaker is seen on a vehicle in Cairo

BEIJING (Reuters) - German automaker BMW and Chinese online gaming giant Tencent Holdings are teaming up to launch a computing center in China that will help develop self-driving cars in the world’s biggest auto market, the companies said on Friday.

BEIJING (Reuters) - German automaker BMW and Chinese online gaming giant Tencent Holdings are teaming up to launch a computing center in China that will help develop self-driving cars in the world’s biggest auto market, the companies said on Friday.

The computing center, which will start operations by the end of the year, will provide cars with data-crunching capabilities to help them drive semi-autonomously and, eventually, autonomously.

The two companies did not disclose the investment in the centre. Sources familiar with the deal said the center will be built in the eastern city of Tianjin.

The establishment of the centre “will support BMW’s autonomous driving development and innovation in China,” Jochen Goller, head of BMW's China operations, said in a statement.

"BMW can, therefore, develop autonomous driving solutions that fit better with the specific driving conditions in China.”

BMW said the new computing center will leverage Tencent's cloud computing and big data, and provide the automaker with infrastructure needed to develop the autonomous cars.

The Munich-headquartered automaker says it will likely introduce semi-autonomous, or L3 classification, cars in China in 2021 which would need massive computing power to analyse real-time flow of digital information on road and traffic conditions.

Driverless cars need sophisticated data-crunching capabilities as they rely on so-called artificial-intelligence, or neuro-network technology, to help them “learn” from experience and could eventually drive themselves without human intervention.

BMW’s planned Chinese computing center follows the opening earlier this year of a similar computing center in Munich.

(Reporting By Norihiko Shirouzu; Editing by Muralikumar Anantharaman)

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.33% 60.77 Delayed Quote.-14.30%
BMW VZ 0.45% 49.1 Delayed Quote.-21.19%
TENCENT HOLDINGS LTD -0.24% 332.6 End-of-day quote.5.65%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TENCENT HOLDINGS LTD
08/21Indonesian VC fund, backed by co-founders of Alibaba, Facebook, raises $75 mi..
RE
08/21EXCLUSIVE : Alibaba postpones up to $15 billion Hong Kong listing amid protests ..
RE
08/21JOHN HESS : Stake in A Guyana Oil Field Lifts Hess -- WSJ
DJ
08/20China's Baidu beats earnings expectations, shares rally
RE
08/19Disney to take on Netflix as streaming war heats up
RE
08/15ASIA MARKETS: Asian Markets Mixed After Conflicting Trade Messages From China
DJ
08/15Tencent Overcomes Cooler Ad Growth -- WSJ
DJ
08/15TENCENT : profit rises after long China ban lifted
AQ
08/14ASIA MARKETS: Asian Markets Retreat On Global Recession Fears
DJ
08/14NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials (CNY)
Sales 2019 381 B
EBIT 2019 119 B
Net income 2019 96 482 M
Finance 2019 51 205 M
Yield 2019 0,34%
P/E ratio 2019 29,9x
P/E ratio 2020 26,5x
EV / Sales2019 7,33x
EV / Sales2020 5,64x
Capitalization 2 842 B
Chart TENCENT HOLDINGS LTD
Duration : Period :
Tencent Holdings Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TENCENT HOLDINGS LTD
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Average target price 374,41  CNY
Last Close Price 299,46  CNY
Spread / Highest target 43,5%
Spread / Average Target 25,0%
Spread / Lowest Target 2,22%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LTD5.65%402 476
NETFLIX11.26%130 392
NASPERS LIMITED22.68%97 507
SPOTIFY TECHNOLOGY SA28.42%26 199
COSTAR GROUP INC84.19%22 709
TENCENT MUSIC ENTERTAINMENT GROUP - ADR3.33%22 336