tech
Former Tesla CFO Deepak Ahuja joins EV battery recycler Redwood Materials
Before joining Redwood Materials, Ahuja served as chief financial and business officer at the drone delivery startup Zipline for about three years.
TL;DR
- Deepak Ahuja, former CFO of Tesla and Zipline, has joined Redwood Materials as CFO.
- Ahuja cited his long-standing respect for Redwood Materials founder JB Straubel as a key factor in his decision.
- Redwood Materials recycles electric vehicle batteries to recover critical minerals and create components for new battery cells.
- The company also develops battery energy storage systems, including those using 'second-life' EV batteries, for various applications.
- Redwood Materials has secured significant funding and has a valuation of over $6 billion.
- The company recently underwent a restructuring, cutting about 10% of its workforce to refocus on its energy division.
- Redwood Materials has partnered with companies like Ford and Rivian and developed a large second-life battery deployment in Texas.