Accelerating China's intelligent development, Mercedes-Benz invests in Geely's autonomous driving company Qianli Technology.

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Mercedes-Benz is accelerating its strategic deployment in the field of intelligence by investing in leading local Chinese technology companies, aiming to strengthen its software and technology capabilities in China’s fiercely competitive market.

According to media reports citing people familiar with the matter, Mercedes-Benz Group AG plans to acquire a minority stake in Shanghai-listed autonomous driving system developer — Chongqing Qianli Technology Co., Ltd. The deal could be announced as early as this week.

This investment highlights the increasingly close relationship between Mercedes and its shareholder Zhejiang Geely Holding Group. Insiders say that Geely is one of the main backers of Qianli Technology and took the lead in promoting Mercedes’ shareholding this time. After the news was released, Qianli Technology’s share price rose 5.11%. As of Wednesday, the company had a market value of about 59.5 billion yuan (about $8.35 billion).

This move comes as German automakers are generally adjusting their China strategies. Faced with the rapid rise of Chinese brands such as BYD and Xiaomi, as well as a weak demand for luxury electric vehicles, deepening local cooperation and acquiring cutting-edge technology have become urgent priorities for German car companies.

Geely and Mercedes Alliance Deepens

This investment marks the deepening of the relationship between Geely and Mercedes from a shareholding level to a more in-depth technical and strategic level. According to insiders, Geely has integrated its autonomous driving-related assets into Qianli Technology, positioning the company as the core platform for its future intelligent driving technology. In addition, Geely and Mercedes are also in preliminary talks about potential cooperation in traditional internal combustion engine projects, reflecting the continuously strengthening partnership between the two parties.

German automakers are facing significant pressure from Chinese brands, and demand for German luxury brand electric vehicles has been dampened. Therefore, German automakers are reshaping their China strategies by deepening local partnerships and launching models that better suit the preferences of local consumers.

The stake in Qianli Technology will directly support Mercedes-Benz’s intelligent development in China. According to sources, after becoming a shareholder, Qianli Technology is expected to collaborate with the German automaker on R&D projects and provide technical support for its upcoming models in the Chinese market. This investment will help Mercedes-Benz better integrate the local supply chain and enhance the intelligence of its products.

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