Bezos-backed Slate Auto raises US$650m ahead of pickup launch

Electric vehicle (EV) startup Slate Auto has raised US$650m in a Series C round led by TWG Global, bringing total funding to approximately US$1.4bn as it prepares to begin production of its debut electric pickup later this year. The company has thus far accrued more than 160,000 refundable reservations, and expects to announce final pricing and open preorders in June 2026.

The Slate truck has been developed around a parts count of roughly just 600 components—a fraction of a typical EV—and ships largely unfinished. It comes with unpainted plastic body panels, manual windows, and no integrated infotainment system. The base two-door configuration uses the customer’s own phone for navigation and media. A 57.2 kWh battery offers a modest 150 miles of range; a larger 84.3 kWh option extends that to 240 miles. An SUV conversion kit, which adds a roll cage and rear bench seating, will be available for around US$5,000.

The target starting price is in the mid-US$20,000s—originally projected at under US$20,000 when the federal EV tax credit was in place. Its removal last year shifted that calculus, but sharp increases in gasoline prices following the Strait of Hormuz’ closure have since created fresh incentive for buyers to consider electrification.

As an automaker, Slate carries substantial Amazon DNA. It was co-founded by former Amazon Consumer Chief Executive Jeff Wilke, and several of its senior team came from the company. Former Amazon Marketplace Vice President Peter Faricy was recently appointed Chief Executive with a specific brief to convert the reservation backlog into paid orders. Jeff Bezos is also among the company’s largest backers.

Slate’s manufacturing approach is arguably as unconventional as its product strategy. By using composite plastic body panels rather than stamped metal, the company avoids the paint shop entirely—one of the most capital-intensive elements of traditional automotive production. Its Warsaw facility is a repurposed printing plant rather than a purpose-built factory, and is  targeting US$400m in investment and capacity of up to 150,000 vehicles annually once fully operational. Service will run through a network of more than 4,000 independent repair centres.