From Tesla IPO Architect to Battery Recycling Leader: Deepak Ahuja's New Role at Redwood Materials

Less than a decade after shepherding Tesla through its historic initial public offering, the financial mind behind that milestone is now applying his expertise to a different kind of electric-vehicle venture. Deepak Ahuja, the CFO who guided Tesla from its early public days through two tumultuous decades, has joined Redwood Materials—the battery recycling and materials startup founded by former Tesla CTO JB Straubel. While Ahuja declines to speculate on an IPO timeline, his appointment signals a maturing company that is far more than a simple battery recycling operation. Here, we explore the man, the move, and what it means for the future of sustainable energy.

Who is Deepak Ahuja and what did he accomplish at Tesla?

Deepak Ahuja served as Tesla’s Chief Financial Officer in two separate stints—first from 2008 to 2015 and again from 2017 to 2019. He is best known for leading the electric car maker through its 2010 initial public offering, a landmark event that raised about $226 million and marked Tesla as the first American automaker to go public since Ford in 1956. During his tenure, Ahuja helped navigate Tesla through extreme volatility: from near-bankruptcy and production hell to the successful ramp of the Model S and Model 3. His financial discipline was critical in transforming Tesla from a niche maker of expensive roadsters into a mass-market automaker valued at tens of billions. Learn why his move to Redwood is so significant.

Why is Deepak Ahuja joining Redwood Materials a big deal?

Ahuja’s arrival at Redwood Materials is a strong signal that the company is preparing for rapid scaling and, eventually, a public offering. Having a CFO with his track record—someone who has already taken a fledgling electric-vehicle company public and stabilized it during hypergrowth—brings instant credibility. Redwood Materials, founded by JB Straubel (Tesla’s co-founder and former CTO), has evolved from a pure battery recycler into a full-loop materials supplier for lithium-ion batteries. Ahuja’s experience in capital raising, cost containment, and investor relations will be invaluable as Redwood builds out its facilities and contracts with automakers. As he told TechCrunch, it’s “too early” to talk about an IPO, but his own history suggests he wouldn’t join a company that isn’t on that trajectory. What exactly is Redwood Materials building now?

What is Redwood Materials, and how has it evolved beyond battery recycling?

Redwood Materials was founded in 2017 by JB Straubel with the initial mission of recycling end-of-life lithium-ion batteries from consumer electronics and electric vehicles. However, the company has since expanded into a broader materials supply chain. Today, Redwood produces anode copper foil and cathode active materials from recycled content, and it plans to supply these to battery manufacturers and automakers. Straubel has described the company as a “circular supply chain” that can help reduce dependence on newly mined minerals like lithium, cobalt, and nickel. With Ahuja now on board, Redwood is no longer just a recycling startup—it is positioning itself as a key raw-materials supplier for the electrification of transportation. The company already has partnerships with Tesla, Panasonic, and other major players. What does this mean for the battery industry?

How does Ahuja’s hiring affect Redwood’s IPO prospects?

While Ahuja has stated it is “too early” to discuss an initial public offering, his appointment is a classic pre-IPO move. A CFO with strong public-company experience is one of the first signals that a private company is preparing for the scrutiny of public markets. Redwood has raised significant capital from investors like Amazon, Capricorn, and Breakthrough Energy Ventures, and is building a massive factory in Nevada. The company’s valuation is estimated to be in the billions. Ahuja’s expertise in crafting financial narratives and managing quarterly earnings would be essential. However, he may also be tasked with building the financial infrastructure needed for an IPO that could happen in the next 2–3 years. For now, expect Redwood to focus on scaling production and securing long-term supply agreements. What challenges does Redwood face going forward?

What are the biggest challenges facing Redwood Materials now?

Despite its promising technology and leadership, Redwood Materials faces several hurdles. Scaling up recycling and materials production to meet the demands of automakers is capital-intensive and technically difficult. The company must prove it can produce high-quality anode and cathode materials at competitive costs compared to mined sources. Additionally, securing a steady supply of end-of-life batteries—which are still relatively rare today—is a chicken-and-egg problem. Redwood is also competing with established mining and chemical companies, as well as other recyclers like Li-Cycle. Finally, geopolitical factors such as trade tensions and mineral supply chains could impact its operations. With Ahuja’s financial acumen, Redwood is better positioned to navigate these challenges, but execution remains key. Back to top: Who is Deepak Ahuja?