Chinese Company Buys 5 Percent Stake in Tesla

Tencent, the Chinese tech company behind messaging app WeChat, says it has taken a 5 percent stake in Tesla for $1.78 billion. The purchase was revealed in a U.S. Securities and Exchange Commission filing. Tesla's stock rose in response to the announcement. Tesla's CEO, Elon Musk, is the company's top shareholder at 21 percent.