Former Tesla Chief Financial Officer Deepak Ahuja has joined battery recycling and energy storage company Redwood Materials as its Chief Financial Officer.
Ahuja will reunite with ex-Tesla executive and Redwood founder JB Straubel at a “defining moment” for the startup, as rising demand for domestic energy storage and critical minerals shifts from a long-term industry goal to what the firm calls an “immediate national priority.”
Ahuja, one of Tesla‘s earliest senior executives, served as the electric vehicle maker’s finance chief for more than a decade across two separate stints.
He first joined Tesla in 2008 and helped steer the company through a severe liquidity crisis during the global financial downturn.
After initially retiring in 2015, he returned in 2017 before stepping down again in 2019 — when he was succeeded by Zach Kirkhorn.
Prior to Tesla, Ahuja spent 15 years at Ford Motor Co. in finance and operations leadership roles.
More recently, he held senior financial positions at Alphabet’s healthcare unit Verily and drone delivery startup Zipline.
Ahuja on Redwood
Ahuja said he was drawn to Redwood because of its strategic position in the battery supply chain and energy storage market.
“Redwood is uniquely positioned to lead on two of the most critical infrastructure challenges the US faces today,” Ahuja said, citing the need for expanded energy storage capacity and domestic sourcing of critical minerals such as lithium, cobalt and nickel.
He added that Redwood was “one of the very few companies positioned to supply these minerals at scale, from a domestic supply chain that no competitor can replicate.”
Ahuja also emphasized Redwood’s vertically integrated model, which combines battery recycling, materials manufacturing and second-life energy storage systems.
“That closed loop is what makes Redwood structurally different from any other company operating in this space,” he noted.
The executive highlighted his long-standing relationship with Redwood founder JB Straubel as another factor behind his decision to join the company.
“I worked alongside JB for a decade and have known him for almost two decades,” Ahuja said. “I understand his leadership strengths and the immense value he brings to building new technologies in categories that didn’t exist before.”
Business Restructure
Ahuja’s appointment comes as Redwood Materials undergoes a broader restructuring aimed at accelerating growth in its energy storage business.
The Nevada-based company recently laid off about 10% of its workforce, or roughly 135 employees, while several senior executives — including Chief Operating Officer Chris Lister — departed in recent months.
The leadership overhaul reflects Redwood’s shift beyond battery recycling into battery materials production and large-scale energy storage systems.
In a company statement, Redwood said scaling its battery recycling, materials production and energy storage operations would require “financial leadership built for complexity, long capital cycles, and close partnerships across the electrification ecosystem.”
Ahuja’s experience managing Tesla’s finances during a period of rapid expansion and heavy manufacturing investment is expected to play a key role as Redwood scales its operations and navigates its next phase of growth.
Scaling
Founded by Straubel in 2017 after leaving Tesla, Redwood has positioned itself as a key player in building a domestic battery supply chain in the United States.
The company, valued at more than $6 billion following funding rounds completed in late 2025 and early 2026, counts Google and Nvidia among its investors.
Ahuja, who said he became an investor in Redwood several years ago, pointed out that “joining when both businesses are scaling simultaneously is exactly the kind of moment I’ve been drawn to throughout my career.”
Redwood said it generated a $200 million revenue run rate in 2024 and currently controls an estimated 70% share of the US battery recycling market.
The company has expanded into producing cathode and anode materials for lithium-ion batteries and supplies major automakers including Toyota, General Motors and Rivian.
Its newest division Redwood Energy focuses on repurposing used electric vehicle batteries into grid-scale storage systems.
According to Redwood, it has accumulated more than 1 gigawatt-hour of batteries suitable for energy storage applications.
The company aims to scale that capacity to 20 gigawatt-hours by 2028, as demand for grid storage rises alongside rapid growth in AI data centers.
Redwood x Tesla
Redwood Materials’ ties to Tesla run deep, both through its leadership and its role in the broader EV battery ecosystem.
Founder JB Straubel, who spent 15 years at Tesla, remains a member of the Elon Musk-led board of directors.
During his time at Tesla, Straubel led battery strategy, supply chain development and the scaling of the company’s Gigafactory operations.
Redwood x Rivian
Redwood Materials has recently signed a second-life battery agreement with California-based EV maker Rivian.
The collaboration focuses on deploying second-life EV batteries for stationary energy storage at its manufacturing plant in Normal, Illinois.
Under the agreement, Redwood will integrate more than 100 retired Rivian battery packs into a 10 MWh energy storage system using its proprietary “Redwood Pack Manager” technology.
The system is designed to supply electricity to Rivian‘s factory during periods of peak demand, reducing strain on the grid and lowering energy costs.
The companies described the installation as the largest repurposed battery energy storage system deployed at a US automotive manufacturing facility.
