Slate Auto Raises $650M in Series C Funding

Electric vehicle startup Slate Auto announced on Monday that it has raised $650 million in a Series C funding round, providing a significant boost to its plans for producing an affordable modular pickup truck. The funding, led by investment firm TWG Global, will support development and manufacturing at the company's facility in Warsaw, Indiana, with production slated to begin by late 2026.

Slate Auto, founded in 2022 and backed by Amazon founder Jeff Bezos, has secured over $1.4 billion in total funding since its inception. Other investors include Bezos' personal office, former Amazon senior vice president Diego Placentini, and venture firms Slauson & Co. and General Catalyst. The company's leadership draws heavily from Amazon alumni, including CEO Peter Faricy, previously vice president of Amazon's Marketplace, and co-founder Jeff Wilke, former chief of Amazon's consumer division. TWG Global is co-run by Los Angeles Dodgers owner Mark Walter and former Legendary Entertainment chief Thomas Tull.

The funds will enable Slate Auto to advance toward customer deliveries of its flagship vehicle, known as the Slate Truck or Blank Slate. The base model features a minimalist design with...