Chinese investment firm Tencent Holdings Ltd. and Chinese e-commerce company JD.com plan to invest US$1.55 billion in Bitauto Holdings Ltd, China's leading internet content and marketing services provider for the automotive industry.

Bitauto's website provides automakers and dealers advertising services that offer consumers up-to-date automobile pricing, specifications, customer feedback, reviews and other information.

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Tencent and JD.com also plan to invest $250 million in Bitauto unit YiXin Capital Ltd., according to reports.

"The three companies will work together to provide enhanced online automotive transaction services to car buyers across China," said Bitauto.

The two Chinese companies intend to invest about $1.15 billion in new shares valued at $73.31 each.

Reports say China's second biggest e-commerce company JD.com will invest $400 million in cash and US$750 million in resources to Bitauto. Tencent plans to invest $150 million for its shares.

Tencent, known for developing its WeChat app, recently launched China's first ever online private bank, WeBank, which opened for business last Monday.

TagsTencent Holdings Limited, JD.com, e-commerce, Bitauto, YiXin Capital Ltd., automobile