Tesla executives listed as officers at materials recycling firm

[BENGALURU] Two top Tesla Inc executives were listed as officers at a materials recycling company, Redwood Materials Inc, indicating possible ties between the companies.

The Redwood City, California-based company has Tesla's chief technology officer, JB Straubel, and head of special projects, Andrew Stevenson, as executive officers, according to the filing.

The filing, dated April 28, was first flagged by research firm CBInsights on Monday.

Redwood Materials did not disclose any direct link with Tesla. Its single-page website, registered in April, is sparse in details. Redwood Materials, which says on its website it plans to focus on recycling, re-manufacturing and re-using materials, raised US$2 million from a single undisclosed investor last month, according to the filing.

Tesla could not be immediately reached for comment. The phone number listed on Redwood's filing reached the voicemail of Mr Stevenson.

In a keynote in March, the electric-car maker listed "re-thinking the materials supply chain" as one of its focus areas.

Elon Musk-led Tesla has been diversifying beyond electric cars. The company bought solar panel installer SolarCity last year to increase its scale in electrical energy management systems and battery production.

Tesla said in January it has started mass production of lithium-ion battery cells at its gigafactory in Nevada along with Japan's Panasonic Corp, ahead of the launch of its mass-market sedan Model 3.

Given Tesla's ambitious plans to scale its manufacturing for new auto models and volume, materials efficiencies and innovation could be key to the company's effort, CBInsights said.

REUTERS