Formula One has announced that Singapore Grand Prix will continue to be held at the Marina Bay Street Circuit for another seven years. The multi-year extension between Formula 1, Singapore GP Pte Ltd (SGP) and the Singapore Tourism Board (STB) will see the FIA Formula One World Championship continue to visit the city from 2022 to 2028 inclusive. 

Due to the global pandemic, F1 was unable to return to Singapore in 2020 and 2021.  

Stefano Domenicali, President and CEO, Formula 1, said, “I am delighted that Formula 1 will continue to race in Singapore for another seven years. The Marina Bay Street Circuit hosted the first night race in F1 history in 2008, and Singapore has continued to thrill fans, teams, and drivers ever since. Singapore holds a special place on the F1 calendar, and this extension is part of our long-term commitment to continue to grow the sport in Asia. The plans that are in place to reduce the carbon footprint of the event are impressive and align with our plans to be Net Zero Carbon as a sport by 2030 and I look forward to continuing our successful relationship with Singapore GP and the Singapore Tourism Board as Formula 1 returns to this incredible city.” 

S Iswaran, Minister for Transport & Minister-in-charge of Trade Relations, said, “Even as we deal with the immediate challenges of the pandemic, it is important that we focus on our recovery and long term growth. The Singapore F1 race continues to be a strong focal point for tourists, global events and business meetings. We have decided to continue hosting the F1 race for another 7 years, after thoroughly evaluating the long term benefits that a term extension could bring to Singapore. The renewal will help sustain Singapore’s reputation as a global city with a vibrant lifestyle, attracting international visitors as travel rebounds, and generating business revenue and jobs for Singaporeans. We will ensure that this year’s and future races, as large scale international sporting events, are COVID-safe, informed by the prevailing pandemic situation and public health assessment. We will also work with all stakeholders to ensure the Singapore race is sustainable. We are grateful for the continued support of fans and the local community as we work closely with Formula 1 Management, Singapore GP, and our partners to make the Singapore race even more exciting and memorable, and sustain its position as an iconic event on the F1 calendar.” 

Ong Beng Seng of Singapore GP, said, “We are very pleased that the night race will continue for seven more years. After more than a decade of celebrating this spectacular event on the racing calendar, we are looking forward to building on its success and working with Formula 1 as well as its partners to take the night race to greater heights. We are delighted that this marquee event will demonstrate how Singapore is open for business. We look forward to welcoming both local and overseas fans and visitors to the Marina Bay Street Circuit once again.” 

Keith Tan, Chief Executive, Singapore Tourism Board, said, “We are proud to continue to host the Singapore Grand Prix for another seven years. It is an experience like no other in the world that reinforces Singapore’s position as a vibrant and exciting global city. STB welcomes the opportunity to work with our partners to introduce new ideas and concepts to enhance the race experience and to make the entire event one of the most environmentally sustainable street circuits in the F1 calendar. We look forward to welcoming international travellers back to Singapore in 2022 for the race, and encourage them to also explore our new and reimagined offerings.” (MT)  

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Global NCAP, the automotive safety watchdog, has announced the latest results for its #SaferCarsForIndia campaign, with two models from Maruti Suzuki India, the country's largest passenger vehicle manufacturer, receiving mixed results.

The latest crash test result saw Global NCAP awarding the Maruti Suzuki Celerio a three-star rating for adult occupant protection following the inclusion of six airbags as standard. A previous version of the vehicle, equipped with two airbags, had received two stars for adult occupant safety and one star for child protection.

The technical evaluations of the six-airbag Celerio indicated protection levels ranging from good to marginal. The assessment noted that both the footwell and the bodyshell were unstable. Tests also showed exposure of children’s heads during front and side impacts.

On the other hand, the company’s popular sedan model the Maruti Suzuki Ciaz received a 1-star rating in the same assessment. The report for this model highlighted:

• The absence of side head protection.
• An unstable footwell and bodyshell.
• A lack of three-point seatbelts in all seating positions.

In contrast, Global NCAP reported that the new Dzire and Victoris models achieved five-star ratings.

Richard Woods, Chief Executive Officer of Global NCAP, said, “We are encouraged that Maruti Suzuki is committed to improving safety with five star performance for new models like the Dzire and Victoris, it remains disappointing however that some legacy models fall short.”

The results follow a commitment from Maruti Suzuki to increase safety standards across its future vehicle range.

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CARS24 has announced the promotion of Divanshu Saxena to Chief Business Officer (CBO) of its NBFC arm, CARS24 Financial Services.

In his new role, Saxena will oversee the strategy, growth and execution of the financial services division. His responsibilities include scaling lending operations, managing risk and maintaining profitability as the company develops its financial services platform.

Saxena previously managed the consumer financing business for LOANS24. During his tenure, the division recorded growth in finance penetration and contributions from non-retail lending. The company noted that his work focused on unit economics and portfolio quality.

Ruchit Agarwal, Co-Founder & Group CFO, CARS24, said, “Divanshu has played a pivotal role in building CARS24 Financial Services into a strong and institutionally sound business. His disciplined approach to growth, deep understanding of lending economics, and consistent execution have laid a solid foundation for scale. We are proud to elevate leaders from within, and as CBO, Divanshu will be central to shaping the next phase of growth for LOANS24.”

Before joining CARS24, Saxena served as a Project Leader at Boston Consulting Group (BCG) within the Financial Services and Industrial Goods practice. He is an alumnus of IIM Calcutta, where he graduated with a silver medal, and Shri Ram College of Commerce (SRCC), University of Delhi.

Divanshu Saxena said, “Building LOANS24 has been about creating a lending business that balances speed with discipline and growth with resilience. As CBO, my focus will be on scaling responsibly, strengthening our fundamentals, and continuing to build a financial services platform that earns long-term trust from customers and partners.”

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South Korean auto major Hyundai Motor Group has announced executive appointments effective from 1st January 2026. The changes focus on the transition to software-defined vehicles (SDV) and the development of manufacturing technology.

In total, 219 executives have been promoted across the Group, comprising four Presidents, 14 Executive Vice Presidents, 25 Senior Vice-Presidents and 176 Vice Presidents. Approximately 30 percent of these promotions are within R&D and technology sectors.

Manfred Harrer has been promoted to President and Head of the R&D Division. Since joining in 2024, Harrer has managed vehicle development. His new role focuses on SDV competitiveness and development projects.

Juncheul Jung is promoted to President. Jung currently manages the Manufacturing Solutions and Procurement Divisions. His remit involves the Group's Software-Defined Factory (SDF) approach and the integration of robotics into production systems.

Yeong Il Choi becomes Executive Vice President and Head of Domestic Production. Choi also takes the role of Chief Safety Officer (CSO) for production facilities in South Korea.

The company also announced revamping leadership positions in its regional business, where it has appointed Seung Kyu Yoon as President of Kia North America Operations, Bo-Ryong Lee as President and CEO of Hyundai Steel Operations, Gang Hyun Seo as Head of Corporate Planning, Affiliate Business Optimisation, Sungwon Jee as Executive Vice-President, Hyundai Brand Marketing and Yongseok Shin as Executive Vice-President of HMG Business Intelligence Institute.

Hyundai Motor Group has internalised technologies including the 'Pleos Connect' infotainment system and 'Atria AI' for autonomous driving. Appointments in engineering include Jeonghun Seo in Battery Engineering and Duckhwan Kim in Hydrogen and Fuel Cell Engineering.

Jaehoon Chang, Vice Chair, continues to oversee the direction for mobility, hydrogen energy and robotics. Within the financial sector, Chang Hyun Cho (Hyundai Card) and Si Woo Jeon (Hyundai Commercial) have been promoted to Executive Vice-President.

"The appointments are intended to strengthen organisational resilience and expand the leadership pipeline across functions. In addition, the appointments reflect the Group’s commitment to turning global uncertainties into opportunities for renewal and growth. It will continue to advance bold leadership transformation and secure strong competitiveness in the SDV era," the company said.

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Maruti Suzuki India has attained a production milestone of 3.5 million units for the popular hatchback the WagonR.

The model, which spans three generations, was first launched in India in December 1999 and is currently manufactured at the company's facilities in Gurgaon and Manesar, Haryana.

The WagonR joins the Alto and Swift as models within the Maruti Suzuki portfolio to reach this volume. Globally, the Suzuki WagonR was first introduced in Japan in September 1993 and is now sold in over 75 countries. In August 2025, the model reached 100 million units in cumulative global sales.

The current WagonR is built on the fifth-generation Heartect platform. Standard safety features include six airbags, Anti-lock Braking System (ABS) with Electronic Brakeforce Distribution (EBD) and Electronic Stability Program (ESP).

On the inside, it comes with a 7-inch touchscreen infotainment system. Connectivity via Apple CarPlay and Android Auto. Bluetooth and voice command functionality.

The vehicle has been the highest-selling car in India for the previous four financial years.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “This achievement is not just a production milestone, but reflects the enduring love and confidence that generations of customers have shown towards brand WagonR. It is rare for a vehicle to receive such acceptance even after 25 years since its launch. The WagonR kept evolving with the introduction of new technology and features over time, while retaining its original DNA. The WagonR has been highly appreciated for aspects like its iconic tall-boy design, spacious interiors and fuel efficiency, which aptly reflect our customers’ needs and expectations. We are deeply grateful for their continued support and remain committed to providing ‘Joy of Mobility’ for generations to come.”

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