AsianFin -- Shares of Qianli Technology climbed after the Chinese autonomous-driving systems developer said German automaker Mercedes-Benz Group will invest 1.3 billion yuan (USD 182.2 million) to acquire a 3% stake in the Geely-backed company.

Qianli Tech [SHA: 601777] rose 3% to 13.38 yuan (USD 1.88) per share at the Shanghai lunch break, after earlier gaining as much as 5.1%.

The company announced that Lifan Holdings will transfer 135.6 million Qianli Tech shares at 9.87 yuan (USD 1.38) each to Mercedes-Benz Shanghai Digital Technology, the automaker’s local R&D subsidiary, to repay debts, citing a notice received from its shareholder.