The importance of Alibaba's new 'Internet car'

Chinese e-commerce giant Alibaba introduced its first automobile last week, the RX5 sport utility vehicle, set to be delivered to customers in August. The company called the vehicle, made with Chinese carmaker SAIC, the first "Internet car" in a news release. It will run software developed by Alibaba's YunOS division to connect with other smart devices, the company said. It will retail for 148,800 yuan, or 22,300. Alibaba in its announcement said the car will use the company's own e-commerce platform to deliver such services as finding parking spaces, locating gas stations or making restaurant reservations.