Tencent bets big on Tesla rival NextEV

Shenzhen-based firm leads the group of investors who support new-energy carmaker

Tencent Holdings Ltd is backing a Chinese version of global market leader Tesla Motors Inc in a new push to tap into the booming electric car market.

The cash-rich company is among a group of investors which poured money into NextEV Co Ltd, a Shanghai-based electric car manufacturer, according to a report by Reuters.