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Bezos-Backed EV Startup Opens Preorders
29 May
Summary
- Slate Auto starts taking preorders on June 24.
- The electric vehicle is expected to cost mid-$20,000s.
- Company has raised $1.4 billion for EV production.
Slate Auto, an electric vehicle startup supported by Jeff Bezos and Mark Walter, is launching its non-refundable preorders on June 24. Deliveries of its anticipated low-cost EV are slated to commence late this year. Prospective buyers were previously encouraged to make a $50 reservation to secure an earlier delivery window.
The company, which emerged from stealth in April 2025, previously suggested a base EV price under $20,000. However, due to changes in federal tax credits and subsequent silence on pricing, Slate Auto now indicates the vehicle will start in the mid-$20,000s. Over 160,000 consumers have already placed refundable reservations.
To navigate the complexities of EV manufacturing and sales, Slate Auto appointed former Amazon executive Peter Faricy as its new CEO in March. The company has secured significant financial backing, recently closing a $650 million Series C funding round. This brings its total raised capital to approximately $1.4 billion, with substantial investment from Walter's TWG Global.
