Former Tesla CFO appointed to Redwood Materials

Redwood Materials, a company specializing in battery recycling and energy storage systems, has appointed Deepak Ahuja as its new Chief Financial Officer (CFO). Ahuja previously served as CFO at Tesla and has a long-standing professional relationship with Redwood Materials founder JB Straubel. The company's leadership team includes many former Tesla employees. This is reported by Techcrunch.com .

Despite high market interest in IPOs for AI and tech companies, Ahuja noted that it is too early to discuss the company's public offering. According to him, Redwood Materials is successfully raising sufficient capital from major investors, and the company's valuation has already exceeded $6 billion.

The company recently underwent structural changes, reducing its workforce by 10%. This step is part of a strategy focused on developing the energy storage business. Ahuja noted that the company's focus on hardware distinguishes it from software-based AI companies, providing greater stability.