carmaker

Chinese carmaker Geely has acquired Meizu, the Alibaba Group-backed smartphone maker, as the automaker plans to bolster its connected ecosystem.Hubei Xingji Shidai Technology, a venture by Geely founder Li Shufu, has bought a 79.09 per cent stake in Meizu, South China Morning Post reported on Tuesday.Meizu's market share has since fallen to just 0.1 per cent in China."Mobile phones and devices have quickly evolved into mobile terminals and application platforms, which not only allow users to enjoy the fruits of innovation…

Diess said he expects Germany's auto giant to create some momentum over the coming months.Jens Schlueter | Afp | Getty ImagesThe chief executive of Volkswagen believes Europe's biggest carmaker can overtake Tesla to become the world's largest seller of electric vehicles by 2025.Speaking to CNBC's "Squawk Box Europe" at the World Economic Forum in Davos, Switzerland, on Tuesday, Herbert Diess said alleviating supply chain issues would likely help create some momentum for the German auto giant over the coming…