Our Next Energy (ONE), the electric-vehicle battery startup, announced on Sunday the immediate appointment of Paul Humphries as its new CEO, succeeding founder Mujeeb Ijaz. Ijaz, a former Apple executive, will transition to the role of vice-chairman of the board and chief technology officer following the leadership change.
Humphries, who has been a member of the ONE Board of Directors since the company’s inception in 2020, takes the helm as CEO. The Michigan-based company recently underwent a workforce reduction, laying off approximately 25% of its employees (128 individuals) last month, citing market conditions as the primary reason for the layoffs.
Despite the workforce changes, ONE remains focused on the establishment of its gigafactory in Michigan and the development of a North American supply chain for batteries.
In February, the company disclosed securing $300 million in a Series B funding round, which valued ONE at $1.2 billion. The leadership transition and strategic focus underscore ONE’s commitment to advancing its position in the electric vehicle battery sector.
