Shein Shares Drop 5% After Weak Hong Kong IPO Debut 
Microsoft to Reveal Azure Revenue in Major Reporting Shake-Up 
OpenAI Launches GPT-6 Astra With Advanced AI Agent Capabilities 
Thomson Reuters C-Track Cyberattack Hits Courts Across U.S. and Canada 
GSM Eyes US, Europe Expansion Ahead of 2028 Hong Kong IPO 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
Deutsche Telekom Shares Rise as Elliott Pushes Against T-Mobile Merger 
Nvidia Eyes $2.5 Billion Investment in Thinking Machines Lab 
Qantas Near-Miss Raises Sydney Air Traffic Controller Fatigue Concerns 
Tesla Cybercab Rides Launch in Austin as NHTSA Reviews Rollout 
Fast Retailing Shares Drop as Uniqlo Japan August Sales Fall 
Honda Targets $9.4 Billion in Cost Cuts as China EV Competition Intensifies 
SEC Seeks ISS Client Voting Records in Proxy Adviser Probe 
Adobe Names Anil Chakravarthy CEO as AI Push Accelerates 
Anthropic Nears $15 Billion Credit Deal Ahead of IPO 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
Tesla Cybercab Launch Puts Robotaxi Ambitions in Focus 
Add as a preferred source on Google
Our Next Energy (ONE), an electric battery startup firm, has appointed a new chief executive officer. It named Paul Humphries as its new CEO, who will lead the company.
Humphries will be replacing Mujeeb Ijaz, who is also the company's founder. The outgoing CEO has held the position since establishing ONE in 2020. The new chief is expected to take over now as his appointment is effective immediately.
Mujeeb Ijaz’s New Role at ONE
Once Ijaz steps down, he will become the vice chairman of the board and will also lead the product engineering unit as the chief technology officer. According to Reuters, Ijaz has worked at Apple Inc. and managed Ford Motor Company's next-level-zero emissions powertrains. He also held an executive position.
Ijab is a veteran in the business with 30 years of experience in the field. At any rate, under his leadership, ONE just slashed its workforce by 25% last month, affecting 128 staff. The company said this move was due to the current market conditions.
Future Plans Under New Leadership
The Michigan-headquartered electric vehicle battery firm said that with Humphries taking on the rein from Iljaz, it will continue to set its sights on constructing its gigafactory in Michigan. It will also work on developing a supply chain for batteries in North America. In February, ONE confirmed it could raise $300 million in Series B funding, bringing its value to $1.2 billion. The company will use part of these funds for its new plant.
"There remains an incredible need for a U.S. battery manufacturer and domestically made cells that extend range, increase energy density, and utilize abundant materials," Paul Humphries said in a press release. "It is an honor and privilege to help lead this company and a talented team through its next chapter as we implement ONE's inspiring vision and focus on scaling production of LFP cells in Michigan to serve transportation and energy storage markets with transformative technology."
Mujeeb Ijaz also commented about the leadership shuffle, "Change is necessary for growth, and we believe this is our opportunity and the time for growth. Through hard work and diversity of leadership, ONE will achieve our united vision of becoming the North American battery manufacturer."
Photo by: ONE Press Release
