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The deal allows the luxury carmaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in order to rapidly scale up production of fully electric vehicles, it said in a statement.

The Next-Gen Maruti Suzuki Ertiga is the ideal choice for those who love to travel, celebrate, and create new memories together with their family and friends.

Net profit came in at Rs. 1.87 billion ($22.59 million) for the three months ended Sept. 30, compared with Rs. 1.86 billion a year earlier. Revenue from operations increased by 4.5 per cent to Rs. 11.21 billion.

The ruling followed days of uncertainty about Musk's intentions and removed the threat that the erratic entrepreneur would have to testify under oath this week about his claims that Twitter fraudulently misled him.

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.

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.

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.