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The company, a unit of heavily indebted property developer China Evergrande Group, launched production of the vehicle at a plant in the northern city of Tianjin last month.

Twitter and Elon Musk are set to reach an out of court settlement soon after the world's richest man tried to back out of the acquisition.

While Musk will provide much of the funding after selling down his stake in electric vehicle maker Tesla Inc and by leaning on equity financing from large investors, major banks have committed to provide $13 billion.

Apollo Global Management and Sixth Street Partners will not be providing financing for Elon Musk's acquisition of Twitter.

Following a GM petition as well as a June crash involving an autonomous vehicle, the City and County of San Francisco said in its comments GM and Cruise failed to provide sufficient data and fell "short of documenting or analyzing the safety performance" of the self-driving vehicles.

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.