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Bajaj Auto launches e-rickshaw Riki, aiming to reset last-mile mobility
MUMBAI: Bajaj Auto has entered the electric rickshaw market with Riki, marking its most aggressive push yet into last-mile mobility. The world’s most valuable two- and three-wheeler maker claims the new line will raise standards in a category long plagued by unreliable range, weak chassis, poor braking and patchy service networks.
The segment has boomed since Covid, adding more than 45,000 vehicles every month as demand for cheap, last-mile transport grows across India’s commuter belts. Yet most offerings remain unorganised, often leaving drivers with low uptime, spiralling maintenance and compromised safety.
Bajaj says Riki is engineered to correct that reputation. The first model in the P40 passenger series, the Riki P4005, offers a certified 149 km range, a monocoque chassis, independent suspension, hydraulic brakes and fast charging in 4.5 hours. It is priced at Rs 1,90,890 (ex-showroom).
The cargo variant, the Riki C4005, delivers the category’s highest certified range at 164 km, a larger tray and 28 per cent gradability, pitched as a booster for driver earnings. It is priced at Rs 2,00,876 (ex-showroom).
Piloted in Patna, Moradabad, Guwahati and Raipur, Riki now rolls out to more than 100 towns across UP, Bihar, MP, Chhattisgarh and Assam.
“Riki brings Bajaj Auto’s trusted 3W engineering into the electric segment at a time when drivers and passengers need dependable solutions,” said Bajaj Auto intra-city business unit president Samardeep Subandh. “It is engineered to lift driver earnings, improve comfort and make last-mile mobility more reliable.”
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Apple CEO Tim Cook to step down after 15 years, John Ternus to take over
Leadership shake-up sees long-time hardware chief step up from September
CUPERTINO: Apple has confirmed that chief executive officer Tim Cook will step down from his role and transition to executive chairman, with senior vice president of hardware engineering John Ternus set to take over as CEO from September 1, 2026.
The transition, approved unanimously by the board, marks a carefully planned leadership shift at one of the world’s most valuable companies. Cook will remain CEO through the summer, working closely with Ternus to ensure a smooth handover before moving into his new role, where he will continue to support Apple and engage with policymakers globally.
In a memo to employees, Apple CEO Tim Cook reflected on his 15-year tenure, recalling the moment Steve Jobs asked him to step into the role. “It was an emotional and challenging moment for all of us at Apple,” he wrote, adding that the company’s core values, from simplicity and innovation to a commitment to improving lives, remain unchanged.
Explaining his decision, Cook said the company’s strong roadmap and future outlook made this the right time for a transition. “I have never been more optimistic about Apple’s future,” he noted, while announcing Ternus as his successor. He described Ternus as “a visionary in his own right” with “remarkable integrity” and the right leader to guide Apple into its next phase.
Cook said, “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour.”
Ternus, in his own note to employees, struck a steady, execution-focused tone. Ternus said, “It has been such a privilege to lead the hardware engineering team… I still plan to be very hands-on,” signalling continuity rather than a strategic reset.
As part of the leadership reshuffle, Ternus will step away from leading hardware engineering, with Tom Marieb taking over the role. Marieb will report to Johny Srouji, who assumes an expanded position as chief hardware officer, aligning hardware development more closely with Apple’s silicon and technology teams.
Cook also used his memo to thank employees, calling them “the most remarkable people in the world” and crediting them for building Apple into what it is today. A town hall has been scheduled at the Steve Jobs Theater to discuss the transition further.
The leadership change also sees Arthur Levinson move to the role of lead independent director, while Ternus joins Apple’s board.
Cook’s tenure has been defined by massive growth and expansion, with Apple’s market value rising from around $350 billion in 2011 to $4 trillion, alongside the launch of new product categories and a booming services business. Ternus, a 25-year Apple veteran, has played a central role in shaping the company’s hardware roadmap, from iPhone and Mac to newer innovations in materials and sustainability.
The transition signals a generational shift, but not a dramatic change in direction. If anything, both memos point to continuity, discipline and a belief that Apple’s next chapter will be built on the same values that shaped its last.
