Bezos Bets Big: Slate Auto Quietly Raises $111M Series A To Build $25K EV Truck, Eyes 2026 Launch In Indianapolis

The secretive institution has raised astatine slightest $111 cardinal successful a Series A circular to money the instauration of a two-seat electrical pickup motortruck priced astir $25,000, according to a nationalist filing.

Slate Auto launched successful 2022 inside Re:Build Manufacturing, a institution connected to Bezos' network. It has been flying nether the radar, softly hiring hundreds of employees, galore of whom person worked astatine Ford (NYSE:F), General Motors (NYSE:GM), Stellantis (NYSE:STLA), and Harley-Davidson (NYSE:HOG). Slate has besides attracted different marquee investors, including Mark Walter, controlling proprietor of the Los Angeles Dodgers, and Thomas Tull, an aboriginal capitalist successful Re:Build Manufacturing, TechCrunch reported.

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The company's ngo is ambitious. The anonymous sources cited by TechCrunch accidental Slate leaders often constituent to the Ford Model T and Volkswagen Beetle arsenic inspiration, hoping to physique a conveyance that could go a "first car" for galore buyers.

Slate besides aims to merchantability a enactment of accessories and apparel to spell with the tiny margins of its low-cost truck, a strategy that volition beryllium acquainted to Harley-Davidson and Jeep-maker Stellantis veterans, galore of whom person present taken up residence successful Slate's enforcement ranks.

Christine Barman, Slate's CEO, and a longtime Chrysler veteran, is starring the institution with a dependable hand. In an interrogation with Career Girls, Barman reflected connected her vocation path, saying, "I emotion the information that I tin instrumentality thing from a conception and spot it each the mode done to accumulation and past spot it connected the road."

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Slate's Series A fundraising included investments from Bezos' household office, overseen by Melinda Lewison, who is listed arsenic a manager successful institution filings. According to TechCrunch, the institution has authorized hundreds of millions of preferred and communal shares, hinting astatine adjacent larger backing rounds ahead. Although circumstantial amounts invested by Bezos person not been disclosed, documents amusement his nonstop information with different affluent individuals.