Bezos-Backed EV Startup Slate Raises $650M for Affordable Truck
Slate Auto, the electric vehicle startup founded by former Amazon execs and backed by Jeff Bezos, raises $650 million to fund its affordable electric pickup truck.
Slate Auto, the electric vehicle startup backed by Jeff Bezos, has raised an impressive $650 million in funding to accelerate its mission of building an affordable, electric pickup truck. The Series C round was led by TWG Global, a firm headed by Guggenheim Partners founder and LA Dodgers owner Mark Walter, as well as financier Thomas Tull.
This latest fundraise comes on the heels of Slate's spin-off from Re:Build Manufacturing, another Bezos-owned company, just last year. While the company didn't disclose its latest valuation, it was previously valued at $1.2 billion as of January 2025.
Slate's goal is to deliver its first electric vehicle later this year, with the pickup truck expected to start in the mid-$20,000s price range. This would make it one of the most affordable electric trucks on the market, potentially disrupting the traditional pickup truck segment.
The influx of capital from this latest funding round will enable Slate to ramp up production, refine its vehicle design, and further develop the necessary battery and charging technology to support its ambitious vision.
Slate's success in securing this substantial investment from high-profile backers like Bezos, Walter, and Tull underscores the growing demand and investor appetite for affordable, sustainable transportation solutions. As the electric vehicle market continues to evolve, startups like Slate are poised to challenge the status quo and bring more accessible, eco-friendly options to consumers.
With the additional resources, Slate is well-positioned to accelerate its product development and manufacturing capabilities, ultimately delivering on its promise of an affordable, emissions-free electric truck that could reshape the industry.
The company's ability to attract such significant funding, particularly from high-profile investors with deep pockets, speaks to the growing confidence in Slate's potential to disrupt the pickup truck market and make a meaningful impact on the electric vehicle landscape.
Source: The Verge
