Mercedes mulls investment in Geely-backed smart driving firm, Bloomberg reports

Mercedes-Benz Group MBG is preparing to invest in Geely-backed autonomous driving system developer Chongqing Qianli Technology 601777, Bloomberg reported on Wednesday.

The German automaker is planning to buy a minority stake in Qianli to bolster its software capabilities in China, with a deal to be announced as soon as this week, the report said.