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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.

Apollo Global Management and Sixth Street Partners will not be providing financing for Elon Musk's acquisition of Twitter.

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.

Though fears of global recession capped gains, Brent crude futures settled up $3.99 to $98.57 per barrel, a weekly gain of 2.9%.

The world's biggest automaker by sales said last week its global production rebounded by 30 per cent in the quarter that ended in September but warned shortages of semiconductors and other components would continue to constrain output in coming months.

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.

Musk has been for long talking about creating a super app called X for which Twitter will provide the underlying architecture.

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.