UPDATE 1-China's SAIC Motor, Alibaba to invest $160 mln in Internet-connected cars
March 12, 2015 at 04:42 AM EDT
March 12 (Reuters) - Chinese auto maker SAIC Motor Corp Ltd said on Thursday it would join forces with e-commerce giant Alibaba Group Holding Ltd to invest 1 billion yuan ($160 million) in a fund to develop Internet-connected cars.