Redwood Materials, the electric vehicle battery recycling company founded by Tesla board member and former CTO JB Straubel, has announced the appointment of former Tesla CFO Deepak Ahuja as its new chief financial officer. The announcement was made on Monday, May 11, 2026, marking a significant addition to Redwood's leadership team with another high-profile executive from Tesla's ranks [1].
Ahuja previously served as Tesla's finance chief from March 2017 to March 2019, having first joined the company in 2008, guiding it through its 2010 IPO, and returning for a second term after a brief resignation in 2015. His decision to join Redwood Materials was heavily influenced by his longstanding professional relationship with Straubel and the presence of other former Tesla leaders at the company. Ahuja emphasized the credibility and ease of transition this brings, while also noting the new learning opportunities in Redwood's distinct business model and growth areas [1].
Redwood Materials, based in Carson City, Nevada, has raised over $2.3 billion in venture funding from major backers including Google, Nvidia's Nventures, Microsoft, OMERS, and Eclipse, and has secured a $2 billion loan commitment from the Department of Energy. The company is now valued at over $6 billion [1]. Ahuja praised Redwood's mission to keep critical minerals such as lithium, cobalt, and nickel within the United States, highlighting the importance of these resources for consumer electronics, vehicles, defense, and energy products. He described the scale and necessity of Redwood's work as 'super motivating' [1].
After leaving Tesla in 2019, Ahuja served as CFO of Verily Life Sciences and later joined Zipline, the world's largest drone delivery company, as chief business and financial officer. Zipline, which recently closed an $800 million funding round at a $7.8 billion valuation, is ranked #46 on the 2025 CNBC Disruptor list and has completed over 2.3 million commercial drone deliveries [1].
Redwood Materials focuses on 'closed loop' recycling, extracting critical minerals from end-of-life batteries in EVs and other devices for reuse in new products. The company views these spent batteries as valuable energy assets due to their remaining storage capacity and mineral content [1].
CONCLUSION
Redwood Materials' hiring of Deepak Ahuja as CFO strengthens its executive team with proven industry leadership and deep Tesla experience. With substantial funding, a $6 billion valuation, and a mission critical to the U.S. supply chain, Redwood is positioned for significant growth in the EV battery recycling sector. The market is likely to view this leadership addition and the company's strategic backing as positive signals for its future trajectory.