Redwood Materials Hires Tesla’s Former CFO
Tesla’s old guard is forming a new team. Reported on May 11, 2026, that Redwood Materials appointed former Tesla CFO Deepak Ahuja as its new finance chief. The move reunites Ahuja with founder and CEO JB Straubel, Tesla’s former CTO. Together, the two men helped build Tesla into the world’s most valuable automaker.
Ahuja first joined Tesla in 2008. He guided the company through a near-death cash crisis that same year. He also navigated Tesla’s IPO in 2010. After a brief retirement in 2015, he returned as CFO in 2017. He then retired again in 2019. After Tesla, he led finance at Verily Life Sciences. He later became Chief Business and Financial Officer at drone delivery company Zipline. Zipline recently closed an $800 million funding round at a $7.8 billion valuation.
Redwood Materials Tesla CFO Move:
The Redwood Materials Tesla CFO hire arrives at a turning point. The company cut about 10% of its workforce, roughly 135 employees, in April 2026. The cuts aimed to refocus resources on its growing energy storage division. However, Straubel told employees the company is “the strongest it’s ever been.” The leadership team already includes Redwood CTO Colin Campbell, another Tesla veteran. Ahuja confirmed that he is also a small investor in Redwood Materials. In addition, he said that joining “felt like a natural fit.” The company holds an estimated 70% of the US battery recycling market. It is currently valued at over $6 billion. Investors include Google and Nvidia, following funding rounds in late 2025 and January 2026.
Despite a hot IPO market for AI-adjacent energy companies, Ahuja pumped the brakes. He said it is “too early” to discuss going public. “Naturally, an IPO is a potential outcome for any private company,” he said. “We’ll talk about it when the time is right.” He added that both he and Straubel have seen many hype cycles. Therefore, they plan to stay disciplined. Redwood’s energy storage business currently targets AI data centres. However, it also works with automakers including Rivian, Ford, Toyota, and GM. Electrek confirmed that the company generated $200 million in run-rate revenue in 2024.
