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Electric cars in China

Tencent, Jack Ma and Didi to buy stakes in Evergrande's EV unit

Upstart automaker's stock tumbles 11.5% on news of discount placement

HONG KONG -- Tencent Holdings, Didi Chuxing and a Jack Ma-backed private equity fund are poised to join a 4 billion Hong Kong dollar ($516.1 million) fundraising for the electric vehicle unit of property developer China Evergrande Group.

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