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Bezos-Backed EV Firm Slate Auto Raises $650 Million
The startup has more than 160,000 refundable reservations and plans to begin customer deliveries in late 2026.
- On Monday, April 13, 2026, Slate Auto closed a $650 million Series C funding round led by investment firm TWG Global to accelerate electric vehicle production and reach manufacturing scale.
- The startup plans to invest approximately $400 million in a reindustrialized factory in Warsaw, Indiana, where it expects to create over 2,000 new jobs in the region.
- CEO Peter Faricy said the funding enables Slate to reach production targets "on time and on budget" by year-end, with customer preorders beginning in June.
- Slate has secured more than 160,000 refundable reservations for its modular pickup, which can transform from a two-seat truck into a five-seat SUV configuration.
- While major automakers face sluggish EV adoption following the loss of federal tax credits, Slate differentiates itself through bare-bones design targeting a mid-$20,000s price point.
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Slate raises $650 million to make its budget electric truck
Slate Auto, the EV startup backed by Jeff Bezos, raised $650 million to fund its effort to build an affordable electric pickup truck expected to start in the mid-$20,000s. The company plans on delivering its first EV later this year. The Series C round was led by TWG Global, headed by Guggenheim Partners founder and LA Dodgers owner Mark Walter and financier Thomas Tull. Slate didn't disclose its latest investors, but both Walter and Tull were i…
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Total News Sources22
Leaning Left7Leaning Right2Center7Last UpdatedBias Distribution44% Left, 44% Center
Bias Distribution
- 44% of the sources lean Left, 44% of the sources are Center
44% Center
L 44%
C 44%
12%
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