Moove, a mobility fintech – revenue-based vehicle financing and financial services to mobility entrepreneurs globally, has raised USD 250 million in a Series C funding round, bringing its valuation to USD 2.1 billion. The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund and Ion Pacific.

The funding round also included investments from BlueCrest Capital Management, Sona Asset Management and The Raptor Group, joining existing investors such as BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, Endeavor Catalyst and the Ontario Power Generation Pension Plan.

The company plans to use the capital to expand its autonomous vehicle business, fund fleet ownership and construct ‘Nests’ depot infrastructure for charging, servicing and maintaining autonomous vehicles. The capital will also support new market launches globally. Moove projects its autonomous vehicle workforce will grow from approximately 150 employees to around 500 by the end of the year.

Since its launch in 2020, Moove has grown to employ 3,300 people across 29 cities in 13 countries, operating approximately 42,000 vehicles and reaching USD 420 million in annualised recurring revenue. The company has expanded through organic operations and acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan. In the autonomous vehicle sector, Moove works as a third-party fleet operator in partnership with Waymo, running operations in Phoenix and Miami, with planned expansion to London.

Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman, Moove, said, “Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city - and that is what Moove is building. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them. We started in Lagos with a simple insight: mobility demand is abundant, but supply cannot scale unless capital, technology and operations move together. Five years later, that insight has evolved into a global platform. Today, we are focused on building the platform that will redefine mobility and enable billions of autonomous journeys worldwide. From our anchor in the UAE, and backed by long-term strategic capital, Moove now has the platform to help take autonomy from breakthrough technology to everyday transportation. This is not a departure from our mission, it is the fullest expression of it.”

Ali Eid AlMheiri, Executive Director of Diversified Assets, UAE Investments Platform at Mubadala, said, “As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important. Moove is building an integrated operating platform that combines fleet ownership, operational capability, and technology to support the next phase of growth in autonomous mobility. This is particularly important for the UAE. Mubadala is investing in enabling infrastructure and scalable platforms like Moove that support economic diversification and strengthen the UAE’s role as a hub for advanced technologies. Since Mubadala’s initial investment three years ago, Moove has been a great partner and we are glad to continue partnering with Moove in its next phase of growth.”

Betty Lee, Principal at Woven Capital, said, "Moove has demonstrated an exceptional ability to execute across markets, building a global platform across traditional and autonomous vehicle fleets. The next wave of mobility is an infrastructure problem as much as a software one, and Moove is building the foundational layer to solve it. Few companies at this stage have proven they can move with the speed and operational excellence that Moove has demonstrated across so many markets. We’re excited to be part of what they are building and help accelerate their path as they scale."

Michael Joseph, Co-CEO & Co-Founder, Ion Pacific, said, “We’ve partnered with the Moove team for more than five years, and their execution has consistently impressed us. As autonomous mobility moves from possibility to reality, Moove is building a critical infrastructure layer for the sector - one that is complex, adaptive and essential to scaling AVs. We’re excited to be part of that journey.”

Comments (0)

ADD COMMENT

Link Copied!

The Indian automotive industry witnessed one of its strongest wholesale monthly performances in October 2026, with a total of 3.2 million vehicles sold across categories, which marks a 16 percent YoY growth, as compared to 2.76 million units sold last year.

The passenger vehicle segment crossed the 500,000-unit mark, witnessing its strongest performance for October to date with a total of 519,060 units sold, as compared to 461,614 units sold last year.

Three-wheeler sales at 103,349 units saw a 26 percent YoY jump, as compared to 82,190 units sold a year ago.

The two-wheeler industry saw a total of 2.57 million units sold, with scooter sales witnessing a robust 32 percent YoY growth at 1.09 million units, as compared to 833,621 units sold a year ago. Motorcycle sales grew by 7 percent YoY to 1.42 million units, as compared to 1.33 million units sold last year.

Rajesh Menon, Director General, Society of Indian Automobile Manufacturers (SIAM), said, “The Indian automobile industry continues to witness healthy demand momentum. In the two-wheeler segment, demand continues to be supported by improved credit availability and replacement demand, across both rural and urban markets. For three-wheelers, last-mile mobility requirements and rapid electrification remain strong structural drivers. Overall, the demand outlook remains positive.”

Comments (0)

ADD COMMENT

Link Copied!

BendPak Inc. unveiled the Valor C10, its first custom-built vehicle, at the 2026 SEMA Show. The handcrafted 1970 Chevrolet C10 pickup honours the sacrifice, courage and commitment of the US Armed Forces. Its debut coincided with Veterans Day, lending the salute added poignancy for the company and its staff.

The truck fuses contemporary performance with enduring design, reflecting the American strength, ingenuity and resilience shared by BendPak and the military. Nostalgia Hot Rods, under Dustin Hacker's direction, handled the build, starting with a vintage C10 and retaining little beyond a heavily modified cab. The body-dropped pickup keeps over 4.5 inches of usable ground clearance despite its slammed stance, thanks to Hacker's chassis work. Metallic blue paint with red accents – a body stripe, brake callipers and engine – echoes the US flag, blue for vigilance, perseverance and justice, red for hardiness, sacrifice and the valour behind the truck's name.

BendPak's creative team designed custom Valor C10 badges for both doors, and the cabin pairs a classic bench seat in two-tone gray Alcantara with blue stitching against bespoke door panels and headliner. Power comes from a BTR Gen V Stage 2 supercharged camshaft, a custom 3.5-inch aluminium driveshaft, MagnaFlow 3-inch mufflers and a Holley Terminator X Max engine management system. A Gearstar GM 6L80E six-speed automatic, a custom Eddie Motorsports serpentine system, a Speedtech Extreme G chassis and QA1 four-way adjustable coilovers with cantilever rear suspension complete the mechanical package, alongside Forgeline custom wheels, JL Audio C7 components, a Kenwood 6.8-inch head unit, a PCS electronic gear shift module with wireless paddle shifter, Dapper Lighting custom headlights and taillights in billet housings,and Nu-Relics power windows.

Military service runs deep at BendPak. Founder Don Henthorn, a US Army veteran, started the company in 1965. President and CEO Jeff Kritzer served three years on active duty as a US Air Force C-130 loadmaster before joining the Air National Guard, preserving his flight status and loadmaster duties while launching his BendPak career – a taxing dual role he upheld for three years. He is the son of a senior master sergeant and fellow loadmaster devoted to military service, and his son Devin served with distinction in the US Army, including deployments to the Gulf region and Bangladesh.

Kritzer said, “We call this build the Valor C10 – it was created to honour the brave men and women who have served and continue to serve in our armed forces, especially those who gave their lives in defence of our nation. BendPak proudly supports the military community. This serves as our way of saying thank you and reminding everyone that freedom isn’t free.”

Sean Price, Director of Product Development, BendPak, said, “We’ve worked with Dustin for several years, supplying his shops with BendPak lifts and equipment, as well as showcasing many of his amazing builds in our SEMA Show booths. We knew he had the passion and craftsmanship to bring our vision for the Valor C10 to life.”

Hacker said, “Most of the sheet metal is custom-fabricated, including the roof, hood, drip rails, floors, bumpers, engine bay and bed. Under the hood, there’s a 376-cubic-inch V8 with a 2.9-litre Whipple supercharger. This thing will make 750 horsepower and drive like a dream.”

Comments (0)

ADD COMMENT

Link Copied!

ContiTech is expanding its research and development capabilities at its Surface Solutions facility in Pune through investments in a dedicated Colour Lab and prototype development infrastructure, alongside the addition of four roles to its local engineering team. The company has also appointed Alok Pandey as Head of Plant Management Pune to oversee site operations.

The Colour Lab will handle colour development, colour matching, appearance evaluation and material testing for vehicle interiors. While primarily serving automotive manufacturers in India, the facility will also support development projects across the Asia-Pacific, Europe, Middle East, and Africa regions. Coupled with prototype testing equipment, the site will enable validation of surface materials for passenger cars and two-wheelers.

Alexander Scholz, Head of Business India, Surface Solutions at ContiTech, said, “India is a key growth market for our business and an important pillar of our long-term development strategy. As automotive manufacturers increasingly seek localised development support, faster response times and closer technical collaboration, these enhanced local capabilities will help us better support our customers' evolving needs. This investment reinforces our ‘In India, for India’ approach and reflects our confidence in the continued growth potential of the Indian automotive industry.”

Burak Uzel, Head of Design, Surface Solutions at ContiTech, said, “Automotive interiors have become a key differentiator for vehicle brands. Customers increasingly expect premium, comfortable and individualized interior experiences, while OEMs seek innovative and sustainable material solutions. This investment will strengthen our ability to develop and validate colour concepts locally, enabling closer collaboration with customers and supporting the next generation of interior design and material solutions for the Indian market.”

Jan-Philipp Behrndt, Head of Operations Automotive Plants, Surface Solutions at ContiTech, said, “The expertise and dedication of our local teams are key to our success. With the planned expansion of our R&D organization, enhanced technical capabilities and strong local leadership, Pune will continue to grow as an important contributor to our global innovation network. I am confident that the team's expertise and commitment will support our future growth and create additional value for customers.”

Comments (0)

ADD COMMENT

Link Copied!

South Korean auto major Kia India and its supplier partners will invest USD 2 billion to establish a second manufacturing facility in Anantapur, Andhra Pradesh, following the signing of a Memorandum of Understanding with the Government of Andhra Pradesh.

The new facility is scheduled to commence production in early 2030. It will add an annual installed capacity of 200,000 units, taking Kia India's combined production capacity beyond 600,000 units per year.

Spread across 465 acres for Kia and its suppliers, the facility will handle stamping, welding, painting and assembly operations for models across internal combustion engine and electric vehicle powertrains.

The project is expected to generate approximately 12,000 direct and indirect employment opportunities, adding to the 24,237 personnel employed across the company's existing 945-acre plant, which holds a production capacity of 430,000 units annually. With the addition of this facility, cumulative investments by Kia and its suppliers across both plants in the state will reach USD 5 billion.

Gwanggu Lee, MD and CEO, Kia India, said, “India is central to Kia’s long-term growth ambitions, and the trust our customers have placed in us since we began operations in Anantapur has been instrumental in our journey. Our second manufacturing plant marks a significant new chapter, strengthening our ability to respond to customer demand with greater speed and flexibility, while supporting the introduction of new models across ICE and EV powertrains. As we enter our next phase of growth, we remain committed to contributing to India’s automotive ecosystem and building on the strong foundation we have created here. This will further expand our Made-in-India footprint, strengthening our ability to serve both domestic and overseas markets.”

Comments (0)

ADD COMMENT

Link Copied!