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Reuters
Mon, April 13, 2026 astatine 10:08 AM CDT 1 min read
April 13 (Reuters) - Electric conveyance institution Slate Auto connected Monday said it has raised $650 million successful a Series C backing round, as the Jeff Bezos-backed steadfast gears up to present its archetypal vehicles precocious this year.
The institution has touted its pickup trucks arsenic being affordable and hopes to capitalize connected the little terms tag to gully successful customers grappling with precocious outgo of living.
Slate did not instantly respond to a Reuters petition for remark connected its valuation.
The institution volition participate the EV marketplace astatine an uncertain time; the nonaccomplishment of federal taxation breaks https://www.reuters.com/business/autos-transportation/us-motor-vehicle-sales-drop-october-ev-subsidies-expire-2025-11-04/ has deed wide request for artillery vehicles, but higher state prices owed to the Middle East struggle are driving immoderate radical toward https://www.reuters.com/business/energy/fuel-crisis-powers-surge-ev-interest-asia-pacific-region-2026-04-01/ electrical cars.
A "blank" Slate motortruck volition outgo successful the mid-$20,000s range, and customers volition be capable to adhd features astatine further cost.
The company, which has taken implicit 160,000 bookings, said it volition produce trucks at a mill successful Warsaw, Indiana, and is expected to put astir $400 cardinal successful the factory.
The funding circular was led by concern steadfast TWG Global.
(Reporting by Zaheer Kachwala successful Bengaluru; Editing by Sahal Muhammed)
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