According to the agreement, Adi Godrej and his brother Nadir will retain Godrej Industries, which comprises five listed companies, while their cousins Jamshyd and Smita will acquire Godrej & Boyce and a prime piece of land in Mumbai.
The layoffs are expected to begin on June 14, with the company expected to lay off 2,688 employees in Austin, Texas, and 3,332 in various locations across California.
UEI is aimed to streamline payment processes and transaction compatibility across EV charging networks by collaborating with electricity distribution companies (Discoms).
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With this service, the time to commute between Connaught Place in Delhi to Gurugram in Haryana will drastically reduce from 90 minutes to as little as 7 minutes for around Rs 2,000-3,000.
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With the investment, Dhawan has also joined the D2C company as its brand ambassador which also saw participation from other angel investors.
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The tech startup said the raised capital will be utilized for growing sales for driver camera, building key partnerships in the automotive domain, developing advanced driver-assistance systems (ADAS) technology, and filing international patents.
The employees were sent a memo by Ruth Porat, chief financial officer at Google, informing them about company’s new plans.
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