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The world's biggest automaker by sales said last week its global production rebounded by 30 per cent in the quarter that ended in September but warned shortages of semiconductors and other components would continue to constrain output in coming months.

RattanIndia, whose shares soared 10% in morning trade, did not disclose the size of the deal. It's buying the stake in Revolt Motors at a time when eco-conscious consumers are turning to alternatives to conventional vehicles.

Musk has been for long talking about creating a super app called X for which Twitter will provide the underlying architecture.

Like some other legacy automakers in India, Hero has been a laggard in launching electric two-wheelers, giving startups such as Ather Energy, which is backed by Tiger Global, and Softbank Group-backed Ola Electric a first-mover advantage.

Led by current Renault China CEO Soh Weiming and backed by Renault and Dongfeng Motor, two-year-old Beyonca plans to unveil its first production car in the first quarter of next year with deliveries from 2024, Soh told Reuters.

Tesla Inc is starting Semi electric commercial truck production and PepsiCo Inc will get the first deliveries on Dec. 1, the electric vehicle maker's chief Elon Musk tweeted on Thursday.

Details are sketchy around who all have backed Elon Musk's $44 Billion takeover of the social media network.

Progressively, the amount of load the US roads take has increased and now EVs are pushing those numbers further