Amazon Executive Chairman Jeff Bezos seems to be extending his extensive influence even further — this time into the realm of electric vehicles. A report released on Tuesday stated: TechCrunch , Bezos has been supporting an Electric Vehicle (EV) start-up based in Michigan named Slate Auto. This company is allegedly working on developing a two-seater electric pickup truck with a price point of around $25,000.
Bezos is well acquainted with the electric vehicle sector, since Amazon is a significant stakeholder in this space. Rivian The previous online bookstore has committed over $1.3 billion to the manufacturer of electric trucks and SUVs. This company is under contract to provide delivery vehicles for the industry giant.
Slate allegedly came into existence in 2022, emerging from an earlier Jeff Bezos-backed venture known as Re:Build Manufacturing. Although this firm hasn’t garnered much attention in the press so far, sources indicate that it has rapidly expanded its workforce by recruiting several hundred individuals across Metropolitan Detroit. Many new hires were previously employed by established automotive companies such as Ford, GM, and Stellantis, along with others who transitioned from roles at firms including Fisker, Canoo, and even motorcycle manufacturer Harley-Davidson. The company's LinkedIn page lists with between 201–500 employees, according to data from April 8.
Information regarding the possible truck remains limited, with those in the know divulging very little. TechCrunch that the Ford Model T and VW Beetle They remain significant inspirations for the project. This undoubtedly aids in contextualizing the $25,000 price tag—by making it possible to bring electric vehicle technology to a far broader consumer base than most current models do.
It appears that the company has gathered substantial financial backing discreetly, as it supposedly raised at least $111 million during its Series A financing round in 2023. According to reports from internal communications, the automaker informed staff about closing their Series B investment rounds towards the close of last year. However, this data hasn’t been submitted to the Securities and Exchange Commission yet. Nonetheless, documents from Delaware indicate that Slate Auto approved approximately 500 million preferred shares for the second round, each valued at $2.37 apiece.
According to Slate Auto, they aim to ramp up production by late 2026. TechCrunch , using a production site located outside of Indianapolis, Indiana; it remains uncertain whether the company has bought an existing facility or intends to construct a custom-built plant. In any case, we are eager to discover additional details regarding this reportedly budget-friendly electric pickup truck.
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