Bezos-backed EV firm Slate Auto raises $650 million

Reuters

Mon, April 13, 2026 astatine 10:08 AM CDT 1 min read

April 13 (Reuters) - Electric conveyance institution Slate Auto connected Monday said it has raised $650 ‌million successful a Series C backing round, ‌as the Jeff Bezos-backed steadfast gears up to present ​its archetypal vehicles precocious this year.

The institution has touted its pickup trucks arsenic being affordable and hopes to capitalize connected the little terms tag ‌to gully successful ⁠customers grappling with precocious outgo of living.

Slate did not instantly respond to ⁠a Reuters petition for remark connected its valuation.

The institution volition participate the EV marketplace astatine an ​uncertain time; ​the nonaccomplishment of ​federal taxation breaks https://www.reuters.com/business/autos-transportation/us-motor-vehicle-sales-drop-october-ev-subsidies-expire-2025-11-04/ ‌has deed wide request for artillery vehicles, but higher state prices owed to the Middle East struggle are driving immoderate radical toward https://www.reuters.com/business/energy/fuel-crisis-powers-surge-ev-interest-asia-pacific-region-2026-04-01/ electrical cars.

A "blank" Slate motortruck volition outgo successful the ‌mid-$20,000s range, and customers volition ​be capable to adhd ​features astatine further ​cost.

The company, which has taken implicit ‌160,000 bookings, said it volition ​produce trucks ​at a mill successful Warsaw, Indiana, and is expected to put astir $400 cardinal successful ​the factory.

The ‌funding circular was led by concern steadfast ​TWG Global.

(Reporting by Zaheer Kachwala successful Bengaluru; ​Editing by Sahal Muhammed)