Michael R Bloomberg has announced a new USD 350 million investment towards Bloomberg Philanthropies Initiative for Global Road Safety, including the Bloomberg Initiative for Cycling Infrastructure, aimed at saving one million lives over the next five years through improved road safety policies and cycling infrastructure.

The announcement, made at CityLab 2026 in Madrid, brings the total funding for the Bloomberg Philanthropies Initiative for Global Road Safety (BIGRS) to USD 865 million since 2007. The initiative focuses on high-impact interventions to combat the more than one million annual road traffic deaths reported by the World Health Organization.

The new funding will scale proven interventions across 13 countries and over 30 cities, with a specific focus on high-risk regions in Latin America, Africa and Asia.

• Cycling Infrastructure (BICI): A global competition will select 25 cities for technical training, with 10 finalists receiving USD 400,000 each to implement safe cycling networks. The goal is to reach 15 million people with improved bike lanes.
• Policy & Enforcement: Continued support for national and city-level policies targeting speeding (a factor in 50 percent of fatalities) and new research into distracted driving.
• Vehicle Safety: Expanding safety standard improvements to more car models across emerging markets.
• Urban Transit: Promoting government investment in Bus Rapid Transit (BRT), cited as the safest urban transport method.

In India, the initiative will specifically target Delhi, Karnataka State and Maharashtra State (with an emphasis on Mumbai and Pune). To accelerate progress, the program uses a ‘mentor city’ model where regional leaders like Bogota, Ho Chi Minh City and Addis Ababa provide peer-to-peer support to neighbouring municipalities.

Michael R. Bloomberg, said, “Road crashes don’t receive enough attention, even though they take a staggering toll on human life and health – and so many of the injuries and deaths are preventable. At Bloomberg Philanthropies, we’ve long recognized the urgency to improve road safety and the important role that improved cycling infrastructure can play. This major new investment will expand and accelerate the lifesaving progress we’ve made bringing proven interventions to streets around the world.”

The initiative which begin in 2007 has established a strong track record of measurable outcomes including nearly 900,000 lives saved through the passage of 190 policies.

Over 2,400 dangerous intersections redesigned and 200 miles of bike lanes built. Nearly 80,000 traffic police trained across 22 countries and anticipated reduction of 97,000 tons of CO2 emissions by 2040 through increased cycling.

The program will also produce the world’s first comprehensive guide for safe cycling infrastructure, establishing new international design standards to supplement the Global Street Design Guide.

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German family-owned automotive component supplier Mubea India has appointed Simon Stephan as Chief Executive Officer to direct the company's business strategy, operational development and regional growth. Stephan will execute this function alongside his existing global responsibilities as Head of Strategy and Regional Development Asia for the Mubea Group.

He holds a master's degree in engineering from RWTH Aachen University and an Executive MBA from the Washington University-Fudan University joint programme in Shanghai.

Stephan comes with over 25 years of experience in the automotive and steel industries, having previously held senior positions at ThyssenKrupp Steel and Kirchhoff Automotive.

At present, Mubea India employs 940 full-time equivalent workers across three production facilities and a central service office, manufacturing chassis and powertrain components for the automotive sector.

In CY2025, the company clocked revenue of over EUR 3,600 million with the largest contribution or 34 percent business coming from chassis, 30 percent from body components, 17 percent from powertrain, 12 percent from aviation and 3 percent from general industrial applications.

"MUBEA India has grown significantly over the past decades. Today we employ 940 FTE at 3 production sites and a central service office. We engineer and produce parts for the automotive industry, in particular Chassis and Powertrain components. In the function of interim CEO I’m glad to lead the company together with our local management team to the next level,” said Simon Stephan.

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BendPak Inc. unveiled the MaxJax MAX7 portable two-post lift at the SEMA Show 2026, marking the first MaxJax model to incorporate the company's exclusive Automatic Swing Arm Restraint System (ASARS). The patent-pending ASARS is significantly more robust than traditional swing arm restraint mechanisms, providing a full 360-degree locking interface with 10 times the holding force to secure lift arms firmly beneath the vehicle, helping prevent unintended swing arm movement during lifting, lowering and service.

The MAX7 rises three inches higher than earlier models, reaching a maximum lifting height of 50.25 inches for additional under-vehicle clearance while retaining a compact profile suited to low-ceiling spaces. Its open design allows direct access to brakes, suspension, exhaust and other undercar components, and a 7,000-pound rated load capacity accommodates a wide range of cars, trucks and SUVs. The lift also features seven safety locking positions and an upgraded, easy-to-use lock release.

MaxJax, the original patented portable two-post lift, combines two-post undercar access and lifting capability with removable columns and power unit. Each column bolts securely to floor anchors recessed permanently in the concrete during use, then can be unbolted and rolled away afterward, leaving the floor completely clear. An optional Motorcycle and ATV Adapter Kit adds powersports service capability.

Because customers frequently add adapters, rolling work seats and other accessories, BendPak offers four MAX7 packages. The Standard includes the lift assembly, power unit with tow-cart, standard anchor bolt kit, round lift pads and medium adapters. The Deluxe adds a rolling work seat and portable oil drain; the Supreme features everything in the Deluxe plus frame cradle pads and tall adapters and the Ultimate maximises ergonomics by replacing the standard rolling work seat with the MaxJax Ergonomic Height-Adjustable Creeper Seat.

Sean Price, Director – Quality Control and Product Development, BendPak, said, “Garage space is premium real estate, whether you’re running a busy shop or wrenching at home. The MAX7 stands out for its versatility. It delivers commercial-grade lifting power for enthusiasts without permanently sacrificing parking space while enabling professional shops to quickly increase service capacity during peak hours. The MaxJax MAX7 unlocks maximum utility without requiring a permanent footprint.”

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Indian automotive retail sales saw their second-best-ever performance last month, with a total of 3.17 million vehicles sold, up 25.05 percent over the previous month, but a 23.8 percent YoY decline, albeit from a high base a year ago.

As per the latest data released by the Federation of Automobile Dealers Associations (FADA), the shift in the festive calendar accounted for the year-on-year drop, as Navratri fell in October while Dhanteras and Diwali shifted into November.

The data pointed out that two-wheeler retail sales reached 2.32 million units, reflecting a 29.67 percent MoM increase and a 28.35 percent YoY decline. Passenger vehicle retails totalled 507,768 units, rising 18.86 percent sequentially while dropping 14.23 percent compared to the previous year. Inventory levels for passenger vehicles remained between 43 and 45 days.

Commercial vehicles recorded 115,140 units, up 2.29 percent YoY and 11.19 per cent MoM, driven by a 28.95 percent increase in heavy commercial vehicles and a 21.16 percent rise in medium commercial vehicles.

Three-wheeler registrations grew 3.97 percent YoY to 141,420 units, with electric variants accounting for approximately 63 percent of the total. Tractor sales rose 3.10 percent to 79,285 units, while wheeled construction equipment recorded a 22.07 percent YoY increase to 7,434 units. Overall electric vehicle registrations reached 355,000 units, representing an electric mobility penetration rate of 11.5 per cent.

Sai Giridhar, President, FADA, said, "October is India’s largest retail month of the year, and this year it must be read with the calendar firmly in mind. The YoY decline is almost entirely optical. Last October was an exceptional month that carried both Navratri and Deepawali together, over and above the pent-up demand released after the GST 2.0 rate cuts of 22nd September 2025; this year Navratri fell in October while Dhanteras and Diwali move into November."

"What the year-on-year numbers conceal is where the decline sits. The sharpest falls are precisely in the most Deepawali-dependent pockets – rural two-wheelers, down 33.97 percent against urban’s 20.77 percent, and the Northern markets — the very segments and regions our dealers there now expect to lead November. To our mind this is the signature of demand deferred by the festival calendar, not demand destroyed: the rural, two-wheeler-led buying that powered last October is set to land in this year’s November print." added Giridhar.

"The clearest bright spot was electrification. EV retails touched an all-time high of about 355,000 units, up 44.88 percent YoY, lifting overall EV penetration to roughly 11.5 percent from about 6 percent a year ago – a best-ever October for electric two-wheelers, three-wheelers, passenger vehicles and commercial vehicles alike. Tellingly, demand ran ahead of supply this month: with petrol and diesel prices continuing to remain elevated, electric vehicle driving ranges now materially improved and EV prices increasingly at par with comparable petrol and diesel models, buyer pull strengthened to the point where availability – not demand – became the binding constraint," concluded Giridhar.

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European tier 1 supplier Marelli has confirmed the appointment of Laurent Favre as Chief Executive Officer with immediate effect, succeeding Frederick ‘Fritz’ Henderson, who concludes his tenure as Interim Chief Executive Officer.

Favre takes over leadership as the company prepares to complete its Chapter 11 restructuring process.

Separately, the Ad Hoc Group of Lenders to Marelli announced plans to appoint Bram Schot as Chair of the Board of Marelli upon emergence from Chapter 11. Previously Chief Executive Officer of Audi, he has held senior leadership roles at Mercedes-Benz, Volkswagen Group and holds advisory and board roles across Shell, Richemont, Cognizant and Signify.

On the other hand, Favre brings over two decades of automotive industry experience, having previously served in executive positions at ThyssenKrupp, ZF, Benteler and as CEO of Plastic Omnium (later renamed OPmobility) from 2020 to 2025.

Dinesh Paliwal, Executive Chairman, Marelli, said, "Fritz stepped into the role at a demanding moment and has led Marelli with judgement, clarity and commitment. On behalf of the Board, we thank him for everything he has done for the company, its customers and its people. Laurent brings deep knowledge of the global automotive industry and a strong record of leading complex international businesses. He understands the operational discipline needed to deliver for customers and the opportunities ahead for Marelli’s products and technologies.”

Laurent Favre said, "I am honoured to lead Marelli at this pivotal point in its history. I want to thank Fritz for his leadership and for the progress he and the Marelli team have made during a challenging period. Our immediate priority is to complete the work required for a successful emergence from Chapter 11. Emergence is a critical milestone, but the turnaround must continue beyond it. We will focus on restoring Marelli’s financial strength, improving performance across the business and strengthening customer confidence through consistent delivery."

"Beyond emergence, our ambition is to build a financially stronger, more competitive Marelli, combining operational excellence with focused innovation and profitable growth. We have talented people, strong technologies and longstanding customer relationships. I look forward to working with colleagues across Marelli to turn those strengths into lasting results and build a business our people are proud to be part of," added Favre.

Fritz Henderson said, "It has been a privilege to lead Marelli during this important period. I am proud of the progress our colleagues have made and grateful for their commitment to the business and its customers. Laurent brings extensive automotive experience and a clear understanding of what it takes to succeed in this industry. I wish him and the entire Marelli team every success as they take the company forward."

Bram Schot said, "Marelli has the talent, technology and customer relationships to succeed. I look forward to supporting Laurent and the team when I will take up the role as Chair following emergence from Chapter 11. Our long-term focus is clear: deliver on our commitments, strengthen customer partnerships and build a stronger, more competitive and sustainable Marelli."

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