Mercedes-Benz has finished investing $191 million in Qianli Technology in China.

Mercedes-Benz said on Thursday that it has successfully acquired a 3% share in Chongqing Qianli Technology, a business that has switched from producing motorcycles to creating autonomous driving systems.

Three months after the deal’s initial announcement, the share is worth 1.34 billion yuan, or around US$191 million.

For 9.87 yuan a share, Shanghai-listed Lifan Holdings sold 135.6 million shares of Qianli to Mercedes-Benz Digital Technology, the automaker’s technology division. Lifan Holdings held more than 5% of Qianli’s shares prior to this deal. Mercedes-Benz is now Qianli’s fifth-largest investor following the conclusion of this transaction.

The transfer of shares “will not lead to changes in the controlling shareholders and actual controllers of the company,” according to the rules. Mercedes-Benz has promised to keep onto its Qianli shares for at least a year.

This purchase demonstrates Mercedes-Benz’s plan to deepen its partnerships in China, the biggest car market in the world.

Beyond this investment, Mercedes-Benz recently became one of the first international manufacturers to be approved in China to include AI chatbots into their cars, along with Tesla and Volvo.

The “Mercedes-Benz virtual assistant” has been registered as a generative AI service by the Beijing branch of the Chinese Cyberspace Administration. This happened at the same time that regulators cleared Volvo’s Xiao Wo chatbot and Tesla’s xBot, which may indicate that Beijing is approving AI services more quickly.

The seller in this deal, Lifan Holdings, began as a motorbike producer in 1992 before branching out into car parts. The business has previously drawn investors, including the Chongqing local government and a private equity group supported by the Chinese automaker Geely.