Jeff Bezos-Backed Slate Auto Garners 100,000 Reservations for $25K Electric Pickup

Jeff Bezos-backed electric-vehicle startup Slate Auto has secured over 100,000 reservations for its customisable, low-cost electric pickup truck, priced at approximately $25,000 before federal incentives, TechCrunch reported.

“We are truly humbled by America’s response to Slate’s brand launch and the launch of our truck,” Slate Auto’s chief commercial officer Jeremy Snyder said in a statement to TechCrunch. “We are excited for what the future holds.”

Slate Auto surpassed 100,000 reservations for its electric pickup truck over the weekend, just over two weeks after emerging from stealth mode and unveiling the vehicle at an event in Los Angeles, California. TechCrunch reported that the truck will start at under $20,000 after the $7,500 federal EV tax credit and that the company plans to manufacture it at a former printing facility in Warsaw, Indiana.

Slate Auto’s rapid accumulation of 100,000 bookings reflects significant interest in its electric pickup truck since its unveiling, though there is no guarantee these reservations will convert to sales. The company requires only a $50 refundable deposit to secure a place in the queue to order the truck.

Slate Auto will manufacture its electric pickup truck at a 1.4 million-square-foot former printing facility in Warsaw, Indiana, approximately 40 miles north-west of Fort Wayne. Previously operated by R.R. Donnelley & Sons (later LSC Communications) until its closure in September 2023, the plant will be transformed into Slate’s production hub with upgrades costing hundreds of millions of dollars. The company aims to start production in late 2026, targeting an annual capacity of 150,000 vehicles.

Bezos Backing Slate

Jeff Bezos has quietly backed Slate Auto, a startup founded in 2022 aiming to launch a $25,000 electric pickup truck in 2026 targeting first-time car buyers, according to TechCrunch. Unlike other EV companies starting with premium models, Slate Auto prioritises an affordable base model with customisable upgrades. The company is headquartered in Troy, Michigan.

Slate Auto spun out from Re:Build Manufacturing, another Bezos-backed startup, and has operated discreetly since its inception. During this period it recruited hundreds of employees, many with experience at Ford, General Motors, Stellantis and Harley-Davidson.

The startup has attracted support from prominent investors including Mark Walter, controlling owner of the Los Angeles Dodgers and CEO of Guggenheim Partners, and Thomas Tull, a key investor in Re:Build Manufacturing, according to documents obtained by TechCrunch from Delaware’s Division of Corporations.

Slate Auto has secured significant funding, raising at least $111 million in a Series A round in 2023. The company reportedly informed employees that it completed its Series B funding by the end of 2024, though this has not yet been filed with the Securities and Exchange Commission. Delaware filings indicate that Slate Auto authorised approximately 500 million preferred shares for the Series B round, valued at $2.37 per share.