Jeff Bezos has quietly backed Slate Auto, an electric vehicle (EV) start‑up based in Michigan, TechCrunch reported. The start‑up, founded in 2022, plans to launch a $25,000 electric truck in 2026, targeting first‑time car buyers. Unlike other EV companies that start with premium vehicles, Slate Auto aims to offer an affordable base model while providing customisation options and upgrades. Their headquarters are located in Troy.
Slate Auto emerged from another Bezos‑supported start‑up called Re:Build Manufacturing. It has been operating discreetly since its establishment in 2022. During its low‑profile phase, the company recruited hundreds of employees, many of whom were previously employed by Ford, General Motors, Stellantis and Harley‑Davidson.
The Electric Truck
Details about the potential truck remain limited, with insiders only revealing to TechCrunch that the Ford Model T and Volkswagen Beetle serve as major inspirations for the project. This, naturally, provides context for the $25,000 price point as it aims to make electric vehicle (EV) technology accessible to a much broader audience than most current offerings.
Slate Auto is reportedly striving to begin production by late 2026, utilising a manufacturing facility located south of Indianapolis, Indiana. It is currently unclear whether the company has acquired an existing facility or plans to construct a custom‑built plant. Regardless, we are eager to learn more about this seemingly affordable electric pickup.
Previous Investments
The start‑up also garnered support from several other prominent investors, including Mark Walter, the controlling owner of the Los Angeles Dodgers and CEO of Guggenheim Partners, as well as Thomas Tull, a key investor in Re:Build Manufacturing. This information comes from documents obtained by TechCrunch from Delaware's Division of Corporations.
Slate Auto seems to have quietly secured substantial financial backing, reportedly raising at least $111 million in a Series A funding round in 2023. The automaker allegedly informed its employees that it completed its Series B investments by the end of last year, though this information has not yet been submitted to the Securities and Exchange Commission. Nevertheless, Delaware filings indicate that Slate Auto authorised approximately 500 million preferred shares for the second round, valued at $2.37 per share.
