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Mercedes-Benz has acquired a 3 percent stake in a Chinese smart driving technology company, becoming its fifth-largest shareholder after acquiring 136 million shares. The shares were transferred from an existing shareholder following approval from the Shanghai Stock Exchange, with the transfer finalized on December 23. This move provides Mercedes-Benz a strategic position in the Chongqing-based company, which specializes in assisted driving and smart cockpit technologies.
After the transaction, the previous shareholder’s holdings decreased from 619 million to 483 million shares, dropping their ownership stake from 13.68% to 10.68%. The German automaker’s digital technology division now owns three percent of the company, having pledged not to diminish its stake within 12 months of registration.
Although the official purchase price hasn’t been disclosed, the company indicated in late September that the shares were transferred at approximately CNY9.87 (about USD1.40) per share. At this rate, the total investment is estimated to be around CNY1.3 billion (approximately USD185 million).
This digital division is the automaker’s largest research and development hub outside of Germany, established through the expansion of their Shanghai R&D team in June 2023. The Chinese company operates in various sectors, including automobiles, motorcycles, and integrated systems for assisted driving and intelligent cockpits.
Both firms have signed a long-term strategic partnership and aim to strengthen their collaboration in artificial intelligence, autonomous driving, and smart cockpit systems.
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