Jeff Bezos-Backed Tesla Rival Slate Raises $650 Million In Latest Funding Round—Receives 160,000 Reservations For $25K Pickup

Jeff Bezos-backed EV shaper Slate Auto has raised $650 cardinal successful its latest backing circular connected Monday, arsenic the customizable, affordable pickup motortruck shaper gears up to merchandise its archetypal model.

The institution raised the magnitude successful its latest backing circular by TWG Global, backed by Slate’s capitalist Mark Walter, Business Insider reported connected Monday. Besides the funding, Slate besides shared that it has secured implicit 160,000 reservations for its archetypal product, a afloat customizable pickup motortruck touted to beryllium sold for $25,000.

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The institution had unveiled the pickup motortruck backmost successful June past year. Slate is offering the merchandise without a accepted overgarment occupation oregon adjacent powerfulness windows and a stereo. The basal trim offers a 150-mile scope with a 52.7kWh artillery arsenic good arsenic a 1,400-pound payload capacity. The institution volition besides connection a larger artillery option, which pushes the scope to 240 miles connected a azygous charge.

Slate’s unsocial attack focuses connected personalization, wherever customers tin prime and take what they privation successful their vehicle, portion the institution besides offers respective presets tailored for aggregate applications. Slate besides provides the enactment for the pickup motortruck to beryllium converted into a tiny SUV.

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The quality comes arsenic the institution had earlier announced that it would uncover its electrical pickup motortruck successful June. “The Blank Slate volition beryllium successful the mid 20s,” the institution shared. Slate besides confirmed that it had secured 150,000 reservations for its vehicle. Slate Auto had besides secured implicit $111 cardinal successful Series A backing from Bezos and different high-profile investors similar Walter.

The automaker besides appointed Peter Faricy arsenic the caller CEO, succeeding erstwhile CEO Christine Barman, who has moved connected to the relation of president of Vehicles.

Tesla Inc., connected the different hand, has besides reportedly been moving connected an affordable exemplary successful the lineup, which, according to capitalist Ross Gerber, could beryllium a Cybercab with a steering instrumentality and pedals. The institution is besides said to beryllium moving connected a caller exemplary successful a seven-seater layout.

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