Zypp Electric’s ESOP buyback programme is an exciting step towards recognising employees’ valuable contributions and involving them in the company’s success
On July 27, Zypp Electric, an innovative Indian startup operating in the burgeoning electric vehicle (EV) space, made a significant announcement that grabbed the attention of both employees and industry experts. The company revealed its employee stock ownership plan (ESOP) buyback program, becoming the first-ever EV-as-a-service platform in the country to introduce such a scheme.
The ESOP buyback program is an exciting development for Zypp Electric and its workforce. This initiative reflects the company’s commitment to recognising the valuable contributions of its employees and ensuring they actively participate in the organisation’s success. Under this plan, Zypp Electric has set aside a substantial amount of INR 1.5 crores to buy back ESOPs from 15 eligible employees.
Source: HR Katha
