Alibaba inks smart car deal

Alibaba Group Holding Ltd announced on Thursday that it has made a solid step forward in smart vehicle development through a partnership with US auto giant Ford Motor Co.

Under a three-year agreement, the duo will explore opportunities in internet-connected cars, artificial intelligence and mobile services, as well as digital marketing.

Both sides will conduct a pilot study to explore "new retail" opportunities, or the seamless integration of online and offline shopping, at various stages of the automotive ownership cycle, from pre-sales to test drives to financial leasing options, according to a statement from Alibaba.