Slate Auto raises $650 million for electric truck

EV startup Slate Auto, backed by Jeff Bezos, has secured $650 million in a Series C funding round led by TWG Global. The capital infusion is earmarked for the production of an affordable electric pickup truck, with initial deliveries anticipated later this year. The company aims to price its electric vehicle in the mid-$20,000s. Slate Auto, which spun off from a Bezos-owned company last year, was valued at $1.2 billion as of January 2025. This significant funding marks a major step towards bringing their budget-friendly electric truck to market.