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Slate Auto Raises $650M for Affordable EVs
13 Apr
Summary
- Slate Auto secured $650 million in Series C funding.
- The company plans to deliver its first vehicles late this year.
- Trucks will start in the mid-$20,000s, with added features costing more.
Electric vehicle startup Slate Auto announced on April 13, 2026, that it has secured $650 million in Series C funding. This significant investment comes as the company gears up for the launch of its first vehicles, expected by the end of 2026. Slate Auto is positioning its pickup trucks as an affordable option in the competitive EV market. The base model, dubbed the "blank" Slate truck, will start in the mid-$20,000s, with customers able to add further features for an additional price.
The company has already received over 160,000 bookings for its trucks. Production is slated to occur at a new factory in Warsaw, Indiana, which is expected to involve an investment of nearly $400 million. The funding round was led by the investment firm TWG Global. Slate Auto enters the market at a time of shifting demand for electric vehicles, influenced by the loss of federal tax breaks and the rising cost of gasoline.
