Bajaj Finance MD Anup Saha resigns; Rajeev Jain returns to role
The non-banking financial company said it has appointed Rajeev Jain to the role till March 31, 2028. Jain will also continue to serve as vice chairman of the company.
Jain had served as the company's managing director before Saha.
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Chinese EV leader BYD, which began as a battery maker and currently has a market cap of $150 billion, was once dismissed by Elon Musk for its unattractive products and weak technology. However, a decade of development, supported by state-backed infrastructure including China's 10-million-strong charging network, has propelled BYD past Musk's Tesla in global sales. In 2024, one of every five EVs sold globally was from BYD, whose market share is now double that of Tesla's. Moreover, BYD's vehicles, like many other Chinese EVs, now boast the type of sleek designs and novel amenities associated with its U.S. rival. Beyond product innovations, some Chinese companies are also experimenting with new business models and sales strategies. For example, livestream social shopping, which was pioneered by Alibaba, has been adopted by Amazon, Instagram, YouTube and even Walmart (in collaboration with TikTok) in the U.S. to target Gen-Z and millennial shoppers. 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Moreover, Chinese tech giants like Huawei and Tencent rank among the top corporate sponsors of Apache and Linux foundations, major nonprofit organizations that shape foundational technologies like artificial intelligence and cloud computing. DeepSeek's R-1 model exemplifies this strategy. Released under the permissive MIT license, it grants large-scale commercial reuse rights (unlike Google's Apache 2.0 or Meta's Llama licenses) and has fueled countless derivative models globally. Such openness has the potential to build developer loyalty, influence AI standards, and circumvent geopolitical friction. This shift has been underpinned by a focus on developing scientific prowess. In 2024, China led the world in high-quality research publications, according to Nature, holding the top spot for the second consecutive year. 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