Although not associated with the famous carmaker, many watches feature these types of hands. The symbol is a three-pointed star inside a circle, a "rising star" representing the 3 modes of transport: land, air, and sea.
These were initially designed as a way to hold a large amount of luminous material in place inside a circle for added visibility.
The name “Mercedes” came from Mercedes Gleitz who was a famous professional swimmer from Britain sponsored by Rolex.
The first Mercedes hands appeared in 1942 and became widely used by Rolex in several product lines. Many other brands still use these hands today.