Jeff Bezos Backs Secretive EV Startup Slate Auto

Jeff Bezos is backing Slate Auto, a secretive EV startup aiming to launch a $25,000 electric pickup truck. With strong financial backing and a unique market approach, Slate Auto seeks to disrupt the EV industry by offering affordable, customizable vehicles. The startup plans to begin production by late 2026, leveraging Amazon's expertise and a seasoned leadership team.

Jeff Bezos is quietly backing an electric vehicle startup named Slate Auto, based in Michigan. This stealthy venture, which could begin production as early as next year, is aiming to revolutionize the EV market with an affordable two-seat electric pickup truck priced around $25,000. Slate Auto, which emerged from another Bezos-connected company, Re:Build Manufacturing, has been operating under the radar since its inception in 2022. The company has already attracted a significant workforce, drawing talent from major automotive players like Ford, General Motors, Stellantis, and Harley-Davidson.

The startup has secured substantial financial backing, raising at least $111 million in a Series A funding round in 2023, with Bezos' involvement. The company has also reportedly closed a Series B round, although details remain under wraps. The Delaware filings reveal that Slate has authorized nearly 500 million preferred shares for the Series B, priced at $2.37 each. Notable investors include Mark Walter, controlling owner of the LA Dodgers, and Thomas Tull, a lead investor in Re:Build Manufacturing.

Slate Auto is taking a unique approach in the EV market by targeting first-time car buyers with a low-cost vehicle that owners can personalize over time. This strategy contrasts with the typical high-end, low-volume approach taken by many EV startups. The company plans to supplement the low margins of its affordable truck by offering a range of accessories and apparel, drawing on the experience of its executives from companies like Harley-Davidson and Stellantis.

The startup is headquartered in Troy, Michigan, and has showcased a proof of concept vehicle to investors at a design studio in Long Beach, California. Slate's leadership team includes Christine Barman, a seasoned automotive executive with a background at Chrysler, who serves as CEO. The company is also leveraging Amazon's expertise, with several former Amazon executives involved in its operations.

Slate Auto's ambitious plans come at a challenging time for the EV industry, which has seen a slowdown in growth and several startups facing bankruptcy. However, with its innovative approach and strong financial backing, Slate Auto is poised to make a significant impact in the market. The company aims to begin production by late 2026 at a facility near Indianapolis, Indiana, although it remains unclear whether this will involve purchasing an existing factory or building a new one.

As Slate Auto continues to develop its product and strategy, it remains a closely watched player in the EV space, with the potential to disrupt the market with its affordable and customizable electric vehicles.