Indian auto heavyweight Tata Motors is planning a major expansion of its electric vehicle lineup, staked by the big TPG Rise Climate fund and Abu Dhabi-based sovereign wealth fund ADQ.
Driving the news: Tata is creating a new unit that aims to develop a portfolio of 10 EVs over the next five years and, working with Tata Power, build out charging infrastructure in India, the company said.
The National Highway Traffic Safety Administration (NHTSA) questioned Tesla in a letter Wednesday on why the company did not file a recall when it updated the self-driving software for some of its vehicle models last month.
Why it matters: Federal law requires automakers to submit a recall when they issue an "over-the-air" update that mitigates a defect that poses an unreasonable risk to drivers.
Southwest Airlines canceled more than 350 flights and delayed around 600 others on Monday after mass cancellations over the weekend from what the airline called "operational challenges," according to AP.
Driving the news: The cancellations started after its pilots asked a court to block the company's new COVID vaccine mandate, though Southwest said Sunday the service disruptions were not a result of a planned labor demonstration by its pilots, Axios' Michael Mooney and Ben Montgomery report.
Dorel Industries agreed to sell its portfolio of bike brands, including Cannondale, Schwinn and Mongoose, for $810 million to Dutch mobility group Pon Holdings.
Why it matters: This creates one of the world's largest analog bike makers, and also reflects surging e-bike usage in the U.S.
If you're traveling internationally this holiday season, make sure you know all the COVID-related requirements at your destination.
Why it matters: International travel poses an increased risk of infection even for fully vaccinated travelers. If you don't follow local rules on masks, testing or quarantine, you could be forced to return to the U.S.
Tesla CEO Elon Musk announced at a shareholder meeting Thursday that the Tesla headquarters will move from Palo Alto, California, to Austin, Texas.
Zum Services, a Redwood City, Calif.-based student transportation startup, raised $130 million at an $800 million pre-money valuation led by SoftBank.
General Motors is offering detailed revenue goals for its electric vehicle business and new info about plans for new models.
Driving the news: Here are the juicy bits of their investor presentation and announcements Wednesday.
Congress "missed an opportunity" to include autonomous vehicle (AV) regulations in the infrastructure bill, Rep. Cathy McMorris Rodgers (R-Wash.), the top Republican on the House Energy & Commerce Committee, said at an Axios event Wednesday.
Why it matters: Though widespread adoption of AV technology is still years away, members of Congress have made long-shot efforts to get ahead of self-driving vehicles and regulate them for cybersecurity, safety and other standards, but no strict federal standards have been put in place.
General Motors plans to double its revenues over the next decade as it transitions to an all-electric future, tapping into software and subscription services that enable new vehicle experiences and connect customers' digital lives, the company told reporters on Wednesday.
Why it matters: It's an extraordinary target for a lumbering industrial giant that is trying to transform itself from automaker to "platform innovator."