Mercedes-Benz Becomes Fifth-Largest Shareholder of Chinese Smart Cockpit Firm Qianli

(Yicai) Dec. 25 -- German automaker Mercedes-Benz has acquired a 3 percent stake in Chinese intelligent driving technology firm Qianli Technology, becoming its fifth-largest shareholder after obtaining 136 million shares.The shares were transferred from existing shareholder Lifan Holdings after the deal received compliance confirmation from the Shanghai Stock Exchange, with the transfer completed on Dec. 23. The transaction gives Mercedes-Benz a foothold in the Chongqing-based company focused on intelligent assisted driving and smart cockpit technologies.Following the transaction, Lifan’s stake in Qianli fell from 619 million shares to 483 million shares, reducing its ownership ratio from 13.68 percent to 10.68 percent. Mercedes-Benz Shanghai Digital Technology, a wholly owned unit of the German car giant, now holds 136 million shares, accounting for 3 percent of Qianli’s equity, and has pledged not to reduce its holdings for 12 months from the registration date.While the final transaction price has not been officially disclosed, Qianli said in late September that Lifan planned to transfer the 136 million shares at CNY9.87 (USD1.40) per share. Based on this price, the investment is estimated at about CNY1.3 billion (USD185 million).Mercedes-Benz Digital is the automaker’s largest digital research and development center outside Germany and was formed in June 2023 through the upgrade of Mercedes-Benz’s Shanghai R&D team. Qianli operates across terminal and technology businesses, covering automobiles and motorcycles, as well as intelligent assisted driving and smart cockpit systems.The two companies have signed a long-term strategic cooperation agreement and plan to deepen collaboration in artificial intelligence, intelligent driving, and smart cockpit intelligence.Editor: Emmi Laine