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Companies from Alibaba to Huawei are striving to become relevant in the trillion-dollar auto industry, which itself is seeking an electric transition and intelligent upgrade as 5G comes of age. State-owned automaker SAIC Motor, a major player in China, unveiled this week a new electric vehicle arm called Zhiji, in which Alibaba and a Shanghai government-backed entity are minority shareholders. Alibaba's ties with SAIC can be traced back to 2015 when they jointly announced a $160 million investment in internet-connected cars.
The Zacks Analyst Blog Highlights: Alibaba and Amazon
Alibaba (NYSE: BABA) and Amazon (NASDAQ: AMZN) are two of the world's largest e-commerce and cloud infrastructure companies. Alibaba owns the largest online marketplaces in China, and Alibaba Cloud is the country's leading cloud platform. Amazon is the e-commerce leader in the U.S., Europe, and other markets, and it owns AWS (Amazon Web Services), the largest cloud platform in the world.