Amazon Executive Chairman Jeff Bezos seems to be extending his extensive influence even more—this time venturing into the realm of electric vehicles. A report released on Tuesday stated this information. 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, considering Amazon's substantial investment in this area. Rivian The previous online book retailer has committed over $1.3 billion to the manufacturer of electric trucks and SUVs. This company is obligated to provide delivery vehicles for the leading logistics giant.
Apparently, Slate came into existence in 2022, emerging from an earlier investment by Bezos in a firm named Re:Build Manufacturing. Although the company hasn’t garnered much attention in the press so far, it has apparently been recruiting numerous workers across Metro Detroit, as stated in the report. Many of these new hires were previously employed by conventional car manufacturers such as Ford, GM, and Stellantis, along with companies including Fisker, Canoo, and even Harley-Davidson. The company's LinkedIn page listed as employing between 201–500 individuals, according to data from April 8.
Information regarding the possible truck remains limited, with those in the know only revealing TechCrunch that the Ford Model T and VW Beetle They remain significant inspirations for the project. This certainly aids in understanding the $25,000 price tag — as it makes electric vehicle technology accessible to a far broader market than most current options provide.
Apparently, the firm has gathered substantial financial backing quietly, securing an estimated $111 million during its Series A fundraising event in 2023. Sources say the car manufacturer informed staff about closing their Series B financing 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 stocks for the next stage, each valued at $2.37 apiece.
Slate Auto aims to boost production by late 2026, as reported. TechCrunch , using a production site located just outside of Indianapolis, Indiana; it remains uncertain at this point whether the company has acquired an existing structure or intends to construct a custom-built factory. In any case, we're eagerly anticipating further details regarding this reportedly budget-friendly electric truck.
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