Bezos-Backed Slate Secures $650M to Launch Affordable EV Pickup Truck

Key Details Slate Auto, the electric vehicle startup backed by Jeff Bezos, has raised $650 million in Series C funding led by TWG Global. The Troy, Michigan-based company plans to bring a stripped-down, two-seater electric pickup truck to market by year-end at a mid-$20,000 price point. Why It Matters Slate's affordable EV addresses consumer demand for cheaper electric vehicles after Congress eliminated the $7,500 federal tax credit for EVs. The truck will offer 150 or 240-mile ranges on a single charge, with owners able to customize features through an accessories marketplace over time. Production Timeline Slate has already secured over 160,000 refundable $50 deposits from interested buyers. The company will announce final pricing when online orders launch in June. Manufacturing will take place at a converted printing plant in Warsaw, Indiana, where Slate is investing $400 million. Leadership & Competition New CEO Peter Faricy, an Amazon veteran and former SunPower chief, aims to develop a third-party accessories marketplace. This funding comes as established automakers struggle with EV profitability, though other startups like Harbinger Motors continue raising capital from major logistics companies.