Mercedes-Benz acquires stake in Chinese autonomous driving developer for US$191 million

Mercedes-Benz on Thursday said it completed the acquisition of a 3 per cent stake, worth 1.34 billion yuan (US$191 million), in motorcycle maker-turned-autonomous driving systems developer Chongqing Qianli Technology, three months after the deal was first announced. The transaction involved Mercedes-Benz Digital Technology, the German carmaker’s tech unit, and Shanghai-listed Lifan Holdings, which transferred 135.6 million shares of Qianli at 9.87 yuan per share. Before the transaction, Lifan...