The magazine said Daimler Chief Financial Officer Bodo Uebber had hired an investment bank to arrange a potential deal. China Investment Corp., the country's sovereign wealth fund, is considered the frontrunner, the magazine reported.

Daimler declined to comment on the report, and China Investment was not immediately available for comment.

Daimler CEO Dieter Zetsche said last July that he would welcome additional investors from China, but added that he did not think the Chinese would try to take control.

China, the world's largest auto market, has become a key source of sales and profits for Daimler and other automakers. Daimler's Mercedes-Benz unit is counting on sales growth in China to help recapture the global luxury sales crown from BMW.

In China, Volkswagen AG's Audi brand is the top-selling luxury automaker, followed by BMW and Mercedes-Benz.